DOL Continues Aggressive Enforcement Pace in 2019
November 26, 2019 by Melanie Waddell
The Labor Department’s Employee Benefits Security Administration recovered more than $2.5 billion in payments to plans, participants and beneficiaries and recovered more than $2 billion from its investigations in fiscal 2019.
EBSA also reported late Thursday that its criminal investigations led to the indictment of 76 individuals — including plan officials, corporate officers and service providers — for offenses related to employee benefit plans.
Under its Terminated Vested Participant Project — a major enforcement priority — EBSA helped participants collect nearly $1.5 billion in retirement benefits in the form of lump sum payments, present value of lifetime annuity payments and interest.
“Overall, these numbers reflect a continued high level of enforcement activity by the DOL,” said Joshua Lichtenstein, a partner at Ropes & Gray in New York who focuses on ERISA and employee benefits.
Click HERE to read the full story via ThinkAdvisor.
