Creation of a Participant Benefit Lost and Found

On November 18, 2024 the Department of Labor’s (“DOL”) Employee Benefit Security Administration (“EBSA”) announced it will start collecting certain data for its Lost and Found plan database.

The Secure 2.0 Act requires the DOL to build a database which will help reunite ,missing participants with their retirement plans.

The submission of information to the EBSA on missing participants is voluntary. Therefore, the EBSA is encouraging plan administrators to submit the name and social security number of anyone age 65 or older and who is due a retirement benefit.

The DOL hopes to have the Lost and Found go live December 29, 2024.