PBGC "missing participants" plan draws industry support

08/22/2013 | BenefitsPro.com

The Pension Benefit Guarantee Corp.'s plan to create a program to manage the 401(k) balances of missing account holders has received letters of support from several key retirement industry groups. As many as 4% of defined-contribution plans terminate every year, and at least half of them have at least one member missing at the time of termination, according to industry estimates.

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