DOL recovered a bunch

Ary Rosenbaum
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Ary Rosenbaum - The Rosenbaum Law Firm P.C.

The Department of Labor (DOL) released its 2020 enforcement fact sheet, showing the work they did for retirement plans and plan participants. The DOL recovered over $3.1 billion in direct payments to plans, participants, and beneficiaries.

The DOL’s Employee Benefits Security Administration (EBSA) conducted 1,122 civil investigations, 754 of which (67%) resulted in monetary results for plans or other corrective action.

EBSA closed 230 criminal investigations, which led to 59 guilty pleas or convictions and the indictment of 70 persons (including plan officials, corporate officers, and service providers) for crimes related to employee benefit plans.

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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