Federal Health & Welfare Updates

DOL Releases ERISA Enforcement Statistics

 

In a DOL fact sheet, the agency announced that over $2.4 billion was recovered from enforcement of ERISA by the Employee Benefits Security Administration (EBSA) through investigations, complaint resolution and other enforcement efforts for the fiscal year 2021.

The EBSA’s oversight extends to almost 734,000 retirement plans, approximately 2 million health plans and 662,000 other welfare plans. The fact sheet explains that over $2 billion was recovered through investigations, and $499.5 million was restored to workers through informal complaint resolution. Of EBSA’s 1,072 civil investigations, over 69% resulted in monetary or other corrective action. Non-monetary corrective action ranged from removal of a plan fiduciary to implementation of new plan procedures.

Where voluntary compliance efforts do not come to fruition, EBSA refers cases to the Solicitor of Labor. In the fiscal year 2021, the agency referred 70 cases to litigation. In addition, EBSA closed 208 criminal cases resulting in 38 guilty pleas or convictions and 72 individuals indicted.

As demonstrated by the data summarized in the fact sheet, ERISA enforcement remains robust. Employers should take note of EBSA’s increased enforcement activity and be mindful of this information when formulating and administering their own ERISA compliance.

DOL Fact Sheet »

PPI Benefit Solutions does not provide legal or tax advice. Compliance, regulatory and related content is for general informational purposes and is not guaranteed to be accurate or complete. You should consult an attorney or tax professional regarding the application or potential implications of laws, regulations or policies to your specific circumstances.

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