Checking the Lost & Found for Missing Participants: What Plan Sponsors Need to Be Doing!

Faegre Drinker

In response to ongoing requests by plan sponsors, service providers and industry associations alike, the Department of Labor (DOL) issued informal, legally nonbinding guidance earlier this year to help address issues surrounding missing retirement plan participants. Join members of Faegre Drinker’s benefits and executive compensation group as we explore best practices for plan sponsors to identify missing and nonresponsive plan participants, as well as potential approaches to facilitate compliance and mitigate risk of penalties. Specifically, our team will discuss:

• Continued focus on investigation and enforcement by the DOL
• How recent guidance will impact fiduciary obligations
• Missing participant searches and procedures
• Spotting red flags and determining next steps

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