2021 – Participant and Plan Sponsor Issues at a Glance
The Advocate’s 2021 Annual Report discusses the Office of the Advocate’s participant and plan sponsor assistance requests and other activities.
The Report identifies the following longstanding participant and plan sponsor issues:
- Case delays related to coordination challenges among PBGC departments
- Lack of clear case ownership and questions about business versus legal decisions
- Outdated policies, practices, and procedures in need of review
- Lax supervision and managerial oversight
The Report illustrates these issues with participant and plan sponsor case examples and provides the Advocate’s overall observations and recommendations. The Report also includes an update on the Office’s Pension Plan Registry Project and the Office of the Advocate’s partnership with the General Service Administration’s Centers of Excellence to support the next stages of the initiative. The Project is exploring options for creating a Registry database with historical pension plan information to help participants searching for their lost pension plans.
For more information, including the Advocate’s comments and recommendations, visit the 2021 Advocate Annual Report.