Program dedicated to finding missing participants is missing a couple other things
Compared to EBSA's successful missing participant program, PBGC's program is lacking some basics, Inspector General says.
By David Baumann|January 12, 2022 at 06:02 PM
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The Pension Benefits Guaranty Corp. is unable to measure the success of a program designed to hold retirement benefits for missing participants and beneficiaries in terminated retirement plans, the agency’s Office of Inspector General said in a just-released report.
“We found that the Corporation does not have performance measures for the program,” the IG said. “PBGC officials did not provide a response as to why performance measures were not established. Furthermore, PBGC does not track the ongoing universe of missing participants.”
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