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Last year, the Department of Labor began seeking the voluntary assistance of retirement plan administrators to develop an online search tool to help workers locate an administrator so they can claim lost retirement savings they left behind when they switched jobs. However, the Employee Benefits Security Administration is seeking "excessive amounts of additional information outside the scope of SECURE 2.0," according to the ERISA Industry Committee (ERIC), which sent a letter to EBSA.
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Lynn Cavanaugh
Lynn Varacalli Cavanaugh is Senior Editor, Retirement at BenefitsPRO. Prior, she was editor-in-chief of the What's New in Benefits & Compensation newsletter. She has worked for major firms in the employee benefits space, Vanguard and Willis Towers Watson, as well as top media companies, including Condé Nast and American Media.
