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 | 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,...
by PC Editorial Staff | May 24, 2022 | DOL, Employee benefit plans, Employee Benefits Administration, ERISA, IRS
On May 20th, 2022, the U.S. Department of Labor (DOL), the Internal Revenue Service (IRS), and the Pension Benefit Guaranty Corporation released their final rule on 2022 Form 5500 filing and Form 5500-SF Short Form Annual Return/Report of Employee Benefit Plans. The...
by PC Editorial Staff | Nov 9, 2021 | Employee Benefits Administration, IRA, IRS, Retirement Plans
On November 4th, 2021, the Internal Revenue Service (IRS) announced cost-of-living adjustments (COLA) for 2022 benefit and contribution limits. Specifically, employee contribution limits increase for 401(k), 403(b), and most 457 plans. In addition, the federal...
by Editorial Staff | Feb 16, 2021 | DOL, EBSA, Employee Benefits Administration, ERISA
On February 16th, 2021, new fiduciary investment advice guidelines issued by the U.S. Department of Labor (DOL) went into effect. Enforced by the Employee Benefits Security Administration (EBSA), the rule follows the guidelines explained within Prohibited Transaction...
