The U.S. Department of Labor\u2019s Employee Benefits Security Administration (EBSA) released its program results for 2019. EBSA\u2019s enforcement and benefit advisor programs recovered over $2.5 billion in payments to plans, participants and beneficiaries. That\u2019s a lot of shekels.<\/p>\n
EBSA reported over $2 billion in recoveries from its investigations. Under its Terminated Vested Participant Project, EBSA helped participants collect nearly $1.5 billion in retirement benefits owed to them.<\/p>\n
Also, EBSA\u2019s criminal investigations led to the indictment of 76 individuals \u2013 including plan officials, corporate officers, and service providers \u2013 for offenses related to employee benefit plans.<\/p>\n
These amounts are very sobering to read and it shows the work of EBSA in clawing back money for participants and getting some creepy fiduciaries indicted.<\/p>\n
<\/span><\/p>","protected":false},"excerpt":{"rendered":" The U.S. Department of Labor\u2019s Employee Benefits Security Administration (EBSA) released its program results for 2019. EBSA\u2019s enforcement and benefit advisor programs recovered over $2.5 billion in payments to plans, participants and beneficiaries. That\u2019s a lot of shekels. EBSA reported … Continue reading