Groom’s summary of the Department of Labor’s (“DOL”) proposed procedure to collect data from plan administrators in an effort to comply with the SECURE 2.0 provision requiring the DOL to establish a database where individuals can locate their retirement benefits was cited in the PLANSPONSOR article, “DOL Asks for Participant Information to Build Lost and Found Database.”
According to PLANSPONSOR, Groom’s publication suggested that “keeping the database in-house at Treasury would have likely enabled IRS to provide the data from Form 8955-SSA for this purpose.”
To read the article, click here.