An effective missing participant policy is vital for defined contribution plan sponsors.

Having a documented missing participant policy is about fulfilling a plan sponsor’s fiduciary duty to act in the best interests of plan participants, and to ensure that they receive benefits they are owed.  It not only guides a plan sponsor’s actions, but it can also signal to regulatory agencies that a sponsor is serious about undertaking reasonable efforts to identify and locate missing participants. 

DISCLAIMER: This is a sample policy and is not legal advice.  It may need to be modified to comply with the specific terms of your plan document and applicable laws. It's recommended to consult with a qualified plan administrator or legal professional to ensure your policy is compliant and effective.

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