DOL’s Missing Participant Guidance Good First Step

Washington, DC – The following statement should be attributed to Aliya Robinson, Senior Vice President of Retirement and Compensation at The ERISA Industry Committee (ERIC):

“ERIC is pleased that the Department of Labor has released much-needed guidance on missing participants. As plan sponsors who voluntarily offer retirement plans, our member companies share the agency’s goal of ensuring that every participant receives the benefits they have earned. ERIC has worked closely with the agency for several years to help clarify this situation and today’s guidance is a good first step.

The Compliance Assistance Release provides transparency in the DOL’s enforcement efforts and provides a national enforcement standard that employers can look to. While we remain concerned that best practices become de facto requirements, we appreciate the sharing of policies and operations that have been successful.

ERIC looks forward to continuing working with the agency on our shared goal of ensuring that all plan participants receive the benefits that they are due.”

Click to read ERIC’s comment letters on missing participants submitted on May 2019, February 2019, and July 2018.

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All media inquiries to The ERISA Industry Committee should be directed to:

Kelly Broadway, 202.627.1918, kbroadway@eric.org

About The ERISA Industry Committee
ERIC is a national advocacy organization that exclusively represents large employers that provide health, retirement, paid leave, and other benefits to their nationwide workforces. With member companies that are leaders in every sector of the economy, ERIC advocates on the federal, state, and local levels for policies that promote flexibility and uniformity in the administration of their employee benefit plans.