Tag: EBSA

Investment Adviser Sentenced for Defrauding Pension Plan

The Department of Labor found the investment adviser made 63 fraudulent requests to Transamerica for lump sum benefit checks for participants not entitled to plan benefits, in total transferring $2 million from the pension plan to his own accounts.

ERISA Attorneys Interpret DOL MEP Regulations

Industry stakeholders disappointed the proposal does not address open MEPs can take heart in the fact that DOL staff are calling for commentary on ways the proposal could be expanded, including into the area of open MEPs.

DOL’s Open MEP Proposal Advances Through OMB

If the DOL’s proposal closely follows President Trump’s executive orders, it is likely to revise the “common nexus” and “one bad apple” rules that have held back open multiple employer plans.