{"id":22786,"date":"2024-11-19T00:48:22","date_gmt":"2024-11-19T00:48:22","guid":{"rendered":"http:\/\/www.thinkadvisor.com\/2024\/11\/18\/dol-seeks-more-data-to-launch-retirement-savings-lost-and-found-database\/"},"modified":"2024-11-19T00:48:22","modified_gmt":"2024-11-19T00:48:22","slug":"dol-seeks-more-data-to-launch-retirement-savings-lost-and-found-database","status":"publish","type":"post","link":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/2024\/11\/19\/dol-seeks-more-data-to-launch-retirement-savings-lost-and-found-database\/","title":{"rendered":"DOL Seeks More Data to Launch Retirement Savings Lost and Found Database"},"content":{"rendered":"<div class=\"media_block\"><a href=\"https:\/\/feeds.feedblitz.com\/-\/908100401\/0\/thinkadvisor.jpg\"><img decoding=\"async\" src=\"https:\/\/feeds.feedblitz.com\/-\/908100401\/0\/thinkadvisor.jpg\" class=\"media_thumbnail\"><\/a><\/div>\n<div><img decoding=\"async\" src=\"https:\/\/images.thinkadvisor.com\/contrib\/content\/uploads\/sites\/415\/2021\/02\/DOL_Sign_Scarcella_640x640.jpg\" class=\"ff-og-image-inserted\"><\/div>\n<p><!----><!----> <\/p>\n<div data-v-3b62a44e readability=\"8.6521739130435\">\n<p>In response to public concern, Labor said it has <a href=\"https:\/\/www.dol.gov\/sites\/dolgov\/files\/ebsa\/about-ebsa\/our-activities\/resource-center\/fact-sheets\/retirement-savings-lost-and-found-information-collection-request.pdf\" target=\"_blank\" link-data=\"{&quot;cms.site.owner&quot;:{&quot;_ref&quot;:&quot;0000018e-8611-dbad-a9af-fe79f4ec0000&quot;,&quot;_type&quot;:&quot;ae3387cc-b875-31b7-b82d-63fd8d758c20&quot;},&quot;cms.content.publishDate&quot;:1731964180097,&quot;cms.content.publishUser&quot;:{&quot;_ref&quot;:&quot;00000192-e888-d331-a9d7-eadacd740000&quot;,&quot;_type&quot;:&quot;6aa69ae1-35be-30dc-87e9-410da9e1cdcc&quot;},&quot;cms.content.updateDate&quot;:1731964180097,&quot;cms.content.updateUser&quot;:{&quot;_ref&quot;:&quot;00000192-e888-d331-a9d7-eadacd740000&quot;,&quot;_type&quot;:&quot;6aa69ae1-35be-30dc-87e9-410da9e1cdcc&quot;},&quot;link&quot;:{&quot;attributes&quot;:[],&quot;target&quot;:&quot;NEW&quot;,&quot;url&quot;:&quot;https:\/\/www.dol.gov\/sites\/dolgov\/files\/ebsa\/about-ebsa\/our-activities\/resource-center\/fact-sheets\/retirement-savings-lost-and-found-information-collection-request.pdf&quot;,&quot;_id&quot;:&quot;00000193-411c-df9c-afff-633c04ba0000&quot;,&quot;_type&quot;:&quot;33ac701a-72c1-316a-a3a5-13918cf384df&quot;},&quot;theme.bundle-default.:link:LinkEnhancement.hbs._template&quot;:null,&quot;theme.bundle-default.:link:LinkEnhancement.hbs._preset&quot;:null,&quot;_id&quot;:&quot;00000193-411c-df9c-afff-633c04ba0001&quot;,&quot;_type&quot;:&quot;02ec1f82-5e56-3b8c-af6e-6fc7c8772266&quot;}\" rel=\"noopener\">narrowed the collection request<\/a> from what was previously proposed. The information will help Labor establish and maintain the complete database contemplated by section 523 of ERISA.<\/p>\n<\/div>\n<p><!----> <!----> <\/p>\n<div data-v-3b62a44e readability=\"8\">\n<p>Labor is seeking \u201cbasic information about individuals of a certain age who may be owed benefits under ERISA retirement plans.\u201d<\/p>\n<\/div>\n<p><!----> <!----> <\/p>\n<div data-v-3b62a44e readability=\"15.591647331787\">\n<p>Specifically, <a href=\"https:\/\/www.dol.gov\/sites\/dolgov\/files\/ebsa\/about-ebsa\/our-activities\/resource-center\/fact-sheets\/retirement-savings-lost-and-found-information-collection-request.pdf\" target=\"_blank\" link-data=\"{&quot;cms.site.owner&quot;:{&quot;_ref&quot;:&quot;0000018e-8611-dbad-a9af-fe79f4ec0000&quot;,&quot;_type&quot;:&quot;ae3387cc-b875-31b7-b82d-63fd8d758c20&quot;},&quot;cms.content.publishDate&quot;:1731964444775,&quot;cms.content.publishUser&quot;:{&quot;_ref&quot;:&quot;00000192-e888-d331-a9d7-eadacd740000&quot;,&quot;_type&quot;:&quot;6aa69ae1-35be-30dc-87e9-410da9e1cdcc&quot;},&quot;cms.content.updateDate&quot;:1731964444775,&quot;cms.content.updateUser&quot;:{&quot;_ref&quot;:&quot;00000192-e888-d331-a9d7-eadacd740000&quot;,&quot;_type&quot;:&quot;6aa69ae1-35be-30dc-87e9-410da9e1cdcc&quot;},&quot;link&quot;:{&quot;attributes&quot;:[],&quot;target&quot;:&quot;NEW&quot;,&quot;url&quot;:&quot;https:\/\/www.dol.gov\/sites\/dolgov\/files\/ebsa\/about-ebsa\/our-activities\/resource-center\/fact-sheets\/retirement-savings-lost-and-found-information-collection-request.pdf&quot;,&quot;_id&quot;:&quot;00000193-4120-d26b-ab9f-5d23126f0000&quot;,&quot;_type&quot;:&quot;33ac701a-72c1-316a-a3a5-13918cf384df&quot;},&quot;theme.bundle-default.:link:LinkEnhancement.hbs._template&quot;:null,&quot;theme.bundle-default.:link:LinkEnhancement.hbs._preset&quot;:null,&quot;_id&quot;:&quot;00000193-4120-d26b-ab9f-5d23126f0001&quot;,&quot;_type&quot;:&quot;02ec1f82-5e56-3b8c-af6e-6fc7c8772266&quot;}\" rel=\"noopener\">EBSA states<\/a> that it\u2019s asking for the name and Social Security number of any participant who: <\/p>\n<ul id=\"rte-bd179a71-a606-11ef-8c53-cd709592ab29\">\n<li>separated from service;<\/li>\n<li>is owed a benefit from the plan; and<\/li>\n<li>is 65 or older.<\/li>\n<\/ul>\n<p>\u201cThe fundamental purpose of any job-based retirement plan is to pay promised benefits to the workers who participate in those plans and plan beneficiaries,\u201d Lisa Gomez, assistant secretary for Employee Benefits Security, said in a statement.<\/p>\n<\/div>\n<p> <!----> <\/p>\n<div data-v-3b62a44e readability=\"13\">\n<p>\u201cOur goal, which we believe plan sponsors and administrators and their service providers share, is to make sure that workers and their beneficiaries receive all the retirement benefits they earned and were promised through their working careers so that they can look forward to a secure and enjoyable retirement,\u201d Gomez said.<\/p>\n<\/div>\n<p><!----> <!----> <\/p>\n<div data-v-3b62a44e readability=\"8\">\n<p>The Retirement Savings Lost and Found database \u201cwill be another tool to help plans carry out this responsibility.\u201d\u202f&nbsp;<\/p>\n<\/div>\n<p><!----> <!----> <\/p>\n<div data-v-3b62a44e readability=\"7\">\n<p><i>Credit: Mike Scarcella\/ALM<\/i><\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>In response to public concern, Labor said it has narrowed the collection request from what was previously proposed. The information will help Labor establish and maintain the complete database contemplated by section 523 of&#46;&#46;&#46;<\/p>\n","protected":false},"author":1,"featured_media":22787,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[],"tags":[1],"jetpack_featured_media_url":"https:\/\/blog.lifeinsurance-orleans.ca\/wp-content\/uploads\/2024\/11\/dol-seeks-more-data-to-launch-retirement-savings-lost-and-found-database.jpg","_links":{"self":[{"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/posts\/22786"}],"collection":[{"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/comments?post=22786"}],"version-history":[{"count":0,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/posts\/22786\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/media\/22787"}],"wp:attachment":[{"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/media?parent=22786"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/categories?post=22786"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/tags?post=22786"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}