DOL Provides Guidance on Missing Participants

In a recent article, "What to Do with Missing Participants: Department of Labor Provides Guidance", Covington & Burling explains that:

"When a defined contribution plan terminates, the plan administrator must distribute participants’ accounts as soon as administratively feasible. However, participants do not always update the plan administrator when their contact information changes, and some participants may not be responsive when the plan administrator requests directions on how to distribute their accounts."

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