by PC Editorial Staff | Jul 26, 2023 | EBSA, Employee benefit plans, Employee Benefits Administration, ERISA, Latest News
The Employee Benefits Security Administration (EBSA) recently announced that retirement plan fiduciaries with a firm based in New York will pay more than $124.6 million for retirement plan asset mismanagement. Specifically, the fiduciaries mismanaged the...
by PC Editorial Staff | Dec 20, 2022 | DOL, EBSA, Employee benefit plans, ERISA
In December 2022, the U.S. Department of Labor (DOL) announced that Employee Benefits Security Administration (EBSA) investigators, in the enforcement of the Employee Retirement Income Security Act of 1974 (ERISA), recovered more than $1.4 billion for ERISA complaints...
by PC Editorial Staff | Dec 13, 2022 | DOL, EBSA, Employee benefit plans, IRS, Retirement Plans
On December 8th, 2022, the U.S. Department of Labor’s (DOL’s) Employee Benefits Security Administration (EBSA) released informational copies of the 2022 Form 5500 Series Annual Return/Report. The release includes informational copies of Form 5500-SF short-form...
by PC Editorial Staff | Dec 13, 2022 | DOL, EBSA, Employee benefit plans, ERISA, Fiduciary Rule, Retirement Plans
Recently, the U.S. Department of Labor (DOL) proposed a self-correction option under its Voluntary Fiduciary Correction Program. Specifically, proposed updates would allow fiduciaries to self-correct specific transactions like late deposits to a 401(k) plan. The...
by PC Editorial Staff | Sep 27, 2022 | EBSA, Employee benefit plans, Employee Benefits Administration, ERISA
On September 23rd, 2022, the U.S. Department of Labor (DOL) announced that an international design firm’s fiduciaries would pay $2 million to restore assets to the company retirement plan after investigators found plan asset mismanagement occurred. Investigators...
by PC Editorial Staff | Sep 14, 2022 | DOL, EBSA, Employee benefit plans, Employee Benefits Administration, ERISA, Retirement Plans
This week, the U.S. Department of Labor (DOL) announced a settlement in an Employee Retirement Income Security Act of 1974 (ERISA) case where Wells Fargo will pay $131.8 million for ERISA violations. According to the DOL investigation, Wells Fargo, Wells Fargo Bank,...
