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Fiduciaries to Pay $124M+ for Retirement Plan Asset Mismanagement

Fiduciaries to Pay $124M+ for Retirement Plan Asset Mismanagement

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...
Agencies Release Final Rule on Changes to 2023 Form 5500, Form 5500-SF

Agencies Release Final Rule on Changes to 2023 Form 5500, Form 5500-SF

by PC Editorial Staff | Feb 28, 2023 | DOL, Employee benefit plans, IRS, Retirement Plans

Last week, the U.S. Department of Labor (DOL), the Internal Revenue Service (IRS), and the Pension Benefit Guaranty Corporation (PBGC) released their final rule bringing changes to the 2023 Form 5500, Annual Return/Report of Employee Benefit Plans and Form 5500-SF...
Court Rules USERRA Requires Paid Military Leave of Comparable Duration

Court Rules USERRA Requires Paid Military Leave of Comparable Duration

by PC Editorial Staff | Feb 14, 2023 | Employee benefit plans, paid sick leave, State Labor Law, USERRA

This month, the U.S. Court of Appeals for the Ninth Circuit (Ninth Circuit) found that, under the Uniformed Services Employment and Reemployment Rights Act (USERRA), employers that provide non-military paid short-term leave for specific reasons must also offer paid...
EBSA Enforcement Actions Recovered Over $1.4B for Plans in FY 2022

EBSA Enforcement Actions Recovered Over $1.4B for Plans in FY 2022

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...
Agency Releases Informational Copies of the 2022 Form 5500 Series

Agency Releases Informational Copies of the 2022 Form 5500 Series

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...
DOL Proposes Updates to the Voluntary Fiduciary Correction Program

DOL Proposes Updates to the Voluntary Fiduciary Correction Program

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...
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