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2019 ERISA Advisory Council Issue Statement: Permissive Transfers of Uncashed Checks from ERISA Plans to State Unclaimed Property Fund (PDF)
Advisory Council on Employee Welfare and Pension Benefit Plans, Employee Benefits Security Administration [EBSA], U.S. Department of Labor [DOL]
May 13, 2019
"The 2019 Council's objective is to review the treatment and procedures utilized by state unclaimed property funds, which may vary significantly between states.... [T]he purpose of the review is to explore whether there are circumstances in which voluntary transfers of uncashed distribution checks to a state unclaimed property fund advances the [DOL's] goal of reuniting Missing Participants with their retirement savings."
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