In an open letter asking for more detailed guidance, the ERISA Industry Committee spells out what it says are “examples of missteps” by the DOL, including “issuing letters asserting breaches of fiduciary duty when there is no applicable legal guidance.”
Tag: missing participants
The Plan Sponsor Council of America has heard concerns from its members that they have been or may be subjected to enforcement actions even though the DOL and IRS have not issued comprehensive guidance on missing participants that provide a clear roadmap for compliance.
“Do the Experts have any Treats for us this Halloween, or only Tricks?”
The agency is proposing that termination forms may be filed electronically and that plan sponsors be offered a pre-filing consultation.