Missing retirement plan participants? DOL ramping up efforts to locate lost employees
The DOL is asking Congress for $5 million to establish a dedicated program, led by the Employee Benefits Security Administration, which recovered more than $1.5 billion in lost benefits for missing participants in 2021.
Self-directed 401(k) participants saw balances drop in 2022
Even so, savers increasingly crave more choice when it comes to their investments - and plan sponsors and advisors should raise awareness about SDBAs for a more personalized, hands-on investing experience, says a new report.
SECURE 2.0 compliance issues: Public sector DC plans seek ‘urgent guidance’ from IRS
The National Association of Government Defined Contribution Administrators sent a letter to the IRS and the Treasury, urging clarification on age-60 catch-up contributions and plan participation for part-time workers.
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