Missing 401(k) Plan Participants?

Estimates are that there are more than 29 million 401(k) accounts that are unclaimed in lost or forgotten 401(k) plans. The amount of money in these is a staggering $1.65 trillion. The Department of Labor (DOL) is very concerned for understandable reasons. (The IRS is also concerned, but for different reasons….). The DOL has therefore developed guidance to help plan administrators to locate missing participants. That guidance is available at the following website.