Owed a Pension? Labor Dept. Broadens Effort to Locate Workers

A program that began in a Labor Department Philadelphia regional office to help find retirees who are owed money from pension plans has gone national, an agency official told Bloomberg Law.

Since 2015, the regional office of the DOL’s Employee Benefits Security Administration has looked into large defined benefit plans, including some from Fortune 500 companies, that have failed to locate and pay retirement-eligible plan participants who are owed benefits. These participants are vested in the pension plan but no longer work for the employer sponsoring the plan.

In the Philadelphia region, there are approximately 86,000 retirees over the age ...