{"id":5250,"date":"2021-01-13T11:15:31","date_gmt":"2021-01-13T16:15:31","guid":{"rendered":"http:\/\/therosenbaumlawfirm.com\/blog\/?p=5250"},"modified":"2021-01-13T11:15:31","modified_gmt":"2021-01-13T16:15:31","slug":"what-you-need-to-do-about-missing-participants","status":"publish","type":"post","link":"http:\/\/therosenbaumlawfirm.com\/blog\/?p=5250","title":{"rendered":"What you need to do about missing participants"},"content":{"rendered":"\n<p>As a 401(k) plan sponsor, it\u2019s not hard to lose touch with former employees who still have an account balance in your Plan. The problem is that as a plan fiduciary, you just can\u2019t let that money sit without trying to locate these participants.<\/p>\n\n\n\n<p>Every once in a while, you need to identify missing participants (they are missing since you can\u2019t locate them). Then you should record your methods in trying to locate them.<\/p>\n\n\n\n<p>The Department of Labor (DOL) in&nbsp;Field Assistance Bulletin 2014-01&nbsp;outlined steps that should be taken to find missing participants:<\/p>\n\n\n\n<ul><li>send a notice to a participant using certified mail;<\/li><li>check employer records;<\/li><li>contact designated beneficiaries;<\/li><li>use electronic search tools; and<\/li><li>check public record databases and obituaries.<\/li><\/ul>\n\n\n\n<p>Thanks to the internet, it\u2019s easier to find missing participants, so you have no excuse by doing nothing.<\/p>\n<p><span class='st_sharethis' st_title='{title}' st_url='{url}' displayText='ShareThis'><\/span><\/p>","protected":false},"excerpt":{"rendered":"<p>As a 401(k) plan sponsor, it\u2019s not hard to lose touch with former employees who still have an account balance in your Plan. The problem is that as a plan fiduciary, you just can\u2019t let that money sit without trying &hellip; <a href=\"http:\/\/therosenbaumlawfirm.com\/blog\/?p=5250\">Continue reading <span class=\"meta-nav\">&rarr;<\/span><\/a><\/p>\n<p><span class='st_sharethis' st_title='{title}' st_url='{url}' displayText='ShareThis'><\/span><\/p>","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[1],"tags":[],"_links":{"self":[{"href":"http:\/\/therosenbaumlawfirm.com\/blog\/index.php?rest_route=\/wp\/v2\/posts\/5250"}],"collection":[{"href":"http:\/\/therosenbaumlawfirm.com\/blog\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/therosenbaumlawfirm.com\/blog\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/therosenbaumlawfirm.com\/blog\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/therosenbaumlawfirm.com\/blog\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=5250"}],"version-history":[{"count":1,"href":"http:\/\/therosenbaumlawfirm.com\/blog\/index.php?rest_route=\/wp\/v2\/posts\/5250\/revisions"}],"predecessor-version":[{"id":5251,"href":"http:\/\/therosenbaumlawfirm.com\/blog\/index.php?rest_route=\/wp\/v2\/posts\/5250\/revisions\/5251"}],"wp:attachment":[{"href":"http:\/\/therosenbaumlawfirm.com\/blog\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=5250"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/therosenbaumlawfirm.com\/blog\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=5250"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/therosenbaumlawfirm.com\/blog\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=5250"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}