Marty Walsh Will Be Nominated as Secretary of Labor
Apart from potentially reversing course on fiduciary rule-related regulations, there are many other areas where sources suggest the next DOL...
Tag: Employee Benefit Security Administration (EBSA)
DOL ERISA Enforcement Results Increase From Previous Year
The agency’s enforcement report describes some ways enforcement actions are initiated.
Federal Court Orders Millions of Dollars Restored to Connecticut Health and Retirement Plans
The decision follows an investigation by the DOL.
DOL Enforcement Efforts Are Wide-Ranging
While the DOL’s Employee Benefit Security Administration is diligent in protecting employees’ benefits, plan sponsors can also turn to it...
Eugene Scalia Wins Senate Confirmation as DOL Secretary
The new Labor Secretary is known for his previous work at the Department of Labor and for a successful litigation...
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...
DOL Invites Correction for Failure to Timely Remit Contributions
An update from law firm Masuda, Funai, Eifert & Mitchell, Ltd. says that based on reviews of Form 5500s, the...
Failure to Remit Contributions Cost Retirement Plan Fiduciaries Over $500,000
In addition, a federal district court has ordered the trustee of the plans not to serve in a fiduciary capacity...
Mercer Sets Goals for DC Plans for the Coming Year
They are centered around three key themes: 1) Secure your foundation, 2) Achieve greater prosperity and 3) Inspire confidence.
Retirement Plan Sponsors and Providers Given Relief by DOL Due to Hurricanes
The DOL relief relates to plan loans and distributions, remittance of contributions and blackout period notices.
Business Owner Gets Prison for Benefit Plan Embezzlement
A DOL investigation found the business owner used benefit plan contributions for corporate and personal expenses.
Litigators Not the Only Ones Looking Into Retirement Plan Investments and Fees
The EBSA’s Plan Investment Conflicts (PIC) project have reviewed conflicts of interest of fiduciary service providers and investment managers of...
DOL Appoints Independent Fiduciary to Abandoned Plan
Fiduciaries of the Sacred Heart Hospital Profit-Sharing 401(k) Plan failed to administer the plan after the hospital operations ceased in...
Business Owner to Serve Prison Time for 401(k) Plan Embezzlement
A multi-agency investigation found that from approximately May 2011 through August 2012, the business owner unlawfully embezzled and converted approximately...
Court Orders Former Lighting Company Owner to Pay Back Profit Sharing Plan
An investigation conducted by the DOL found the past trustee had issued checks from the plan’s checking account to the...
401(k) Plan Trustees Ordered to Pay Back Misused Funds
A DOL investigation found the trustees used plan assets for businesses and properties owned by themselves and family members.
DOL Announces Fiduciary Seminar in New York City
The compliance assistance program will increase awareness and understanding about basic fiduciary responsibilities when operating a retirement plan.
DOL Announces Fiduciary Seminar in Rhode Island
The compliance assistance program will increase awareness and understanding about basic fiduciary responsibilities when operating a retirement plan.
Pension Trustee Found Guilty of Theft
The trustee is ordered to pay $234,271 in restitution, serve a year of probation and be barred from serving as...
DOL to Take Fiduciary Seminar to Louisiana
The compliance assistance program will increase awareness and understanding about basic fiduciary responsibilities when operating a retirement plan.