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PSCA Comment Letter to ERISA Advisory Council on Locating Missing and Lost Participants
Plan Sponsor Council of America [PSCA] 
[Opinion] June 5, 2013 Recommendations include: "The DOL should extend the safe harbor rules under ERISA Regulation Section 2550.404a-2 to missing beneficiaries in addition to participants ... The DOL should extend the safe harbor rules under ERISA Regulation Section 2550.404a-2 to distributions to missing or unresponsive participants, without regard to the size of the benefits, when benefits become payable after attaining the plan's normal retirement date.... As a practical matter, account balances of less than $1,000 continue to cause administrative headaches." |
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