Bloomberg Law
Dec. 30, 2019, 11:30 AM

Federal Muddle Hinders Reunion of Workers With Retirement Cash

Warren Rojas
Warren Rojas
Senior Reporter

Employers are being pressured to track down missing retirement plan participants owed hundreds of millions in benefits. The plan sponsors, as well as a supporting band of locator services adept at reuniting workers with overdue accounts, say they’re on board.

They just wish the trio of federal agencies leading the charge would clearly and consistently communicate what’s expected of those stuck holding unclaimed funds.

One component of the ongoing effort steered by the Internal Revenue Service, Employee Benefits Security Administration, and Pension Benefit Guaranty Corporation is prodding plan administrators to find missing participants by any means necessary—at ...

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