Locating Missing Participants

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Today we will be discussing strategies around locating missing participants.

In their 2021 best practices, the Department of Labor emphasizes the plan sponsor's duty to communicate with all plan participants and locate missing ones. However, they've not specified a fixed method, suggesting plan sponsors harness national location searches and public databases.

When a participant is identified as "missing," the initial step is to reach out using all contact information from their employment records, including legal and tax forms. If unsuccessful, gathering updated information from coworkers, emergency contacts, or beneficiaries can help. Subsequently, online searches, including Google and obituaries, can be used to identify potential leads. For more challenging cases, considering the services of skip tracing firms, which utilize credit bureau data, or hiring private investigators, might be necessary.

Creating a consistent, documented process for locating these participants is crucial. It shows diligence and can be referenced during any investigations by the Department of Labor, IRS, or in litigation.

For more information on how to best locate missing participants, contact us today.

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