Labor Department Working to Sniff Out Missing Pension Holders

Jan. 22, 2019, 6:04 PM

Labor Department officials see a few ways they can speed up efforts to pay missing retirement plan participants what they are owed.

The early successes of the Pension Benefits Guaranty Corporation’s expanded missing participants program, coupled with mounting pleas from state treasuries for added guidance, have sent administration aides in search of immediate solutions.

“Missing participants is kind of stacking up right now,” Janet Walters, a senior adviser with the Employee Benefits Security Administration, said. She told tax lawyers at the American Bar Association’s recent conference in New Orleans that requests for help keep pouring in from perplexed plan ...

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