Tag Archives: missing participants
Federal Law Update, 2003-2004
Department of Labor Issues Guidance Regarding Missing Participants in Defined Contribution Plans
(Posted on September 30, 2004 by Carol V. Calhoun)
Field Assistance Bulletin 2004-02 gives guidance on what a plan fiduciary needs to do in order to fulfill its fiduciary obligations under ERISA with respect to: (1) locating a missing participant of a terminated defined contribution plan; and (2) distributing an account balance when efforts to communicate with a missing participant fail to secure a distribution election.