Expanded PBGC Program to Locate Lost Defined Contribution Plan Participants

Article Excerpt:

On December 22, 2017, the Pension Benefit Guaranty Corporation (PBGC) issued final regulations permitting the expansion of its existing Missing Participants Program (the “Program”) to include defined contribution (DC) plans. The PBGC has operated this program for the past 20 years for its insured single-employer defined benefit (DB) plans. Expansion of the Program is a result of the Pension Protection Act of 2006 which authorized it.