The Department of Labor is seeking additional public comment on amendments to its Abandoned Plan Regulations. The regulations provide streamlined procedures for certain financial services providers to terminate and distribute benefits from individual account retirement plans (such as 401(k) plans) that have been abandoned by their sponsoring employers. The amendments expand the regulations to cover individual account retirement plans whose sponsors are in liquidation under chapter 7 of the U.S. Bankruptcy Code, so that bankruptcy trustees may use the streamlined procedures to terminate and wind up these plans.

These comments will be made available in alternative format to persons with disabilities upon request.