MetLife’s Lost Client Problem Highlights Pension Guidance Gap

MetLife recently said it discovered after an internal review that it lost track of thousands of clients who were owed a pension benefit.

The revelation is likely to cause employers sponsoring pension and 401(k) plans to take a look at how they deal with locating retirees that have fallen off the grid. But as companies re-examine the processes they use for finding these retirees, they won’t find a lot of clear federal guidance.

The Labor Department said two months ago that it’s increasing its focus on ensuring that workers are connected with their pension checks. The agency has focused primarily ...