The Labor Department’s benefits regulator is working on guidance for employers who have lost contact with retirement plan participants, head of the Employee Benefits Security Administration Preston Rutledge said today in a rare public appearance.
The announcement comes after the business community and the Government Accountability Office called for the DOL to release specific guidelines they need to follow to ensure they’re in compliance when contacting plan participants. Rutledge, who just hit his six-month mark as head of the EBSA this week, focused solely on the missing participant issue as he addressed a crowd of dozens July 19 at an ...