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.
Tag: Employee Benefits Security Administration
The DOL relief relates to plan loans and distributions, remittance of contributions and blackout period notices.
A DOL investigation found the trustees used plan assets for businesses and properties owned by themselves and family members.
A former office manager of New England Anesthesiologists, Inc. has been sentenced to 37 months in federal prison and to pay restitution to his victims.
The Employee Benefits Security Administration (EBSA) restored more than $1.1 billion to retirement plans, health plans and other welfare benefit plans in 2017.