January 21, 2022

Federal court paves way for 16 employees of defunct Bay Area construction company to access $1M in retirement assets

SAN FRANCISCO – Sixteen people participating in an employee retirement plan sponsored by a now defunct Danville construction company will receive distributions of almost $1 million in assets following an investigation and litigation by the U.S. Department of Labor.

January 13, 2022

US Department of Labor investigation leads former owner to repay unpaid health plan claims of uninsured employees of Somerset healthcare agency

SOMERSET, KY – For months, 11 employees at a Somerset home healthcare agency faced costly medical bills, unaware their employer had failed to remit contributions withheld from their wages to their healthcare plans, leading to a lapse in their medical insurance.

January 6, 2022

US Department of Labor recovers more than $9.3M for Minnesota Employee Stock Ownership Plan after investigation finds plan overpaid for shares

MINNEAPOLIS – The U.S. Department of Labor has recovered more than $9.3 million for participants of a Minneapolis manufacturing company’s employee stock ownership plan after the fund overpaid for company stock in 2011, under the terms of a consent judgment entered in a federal court.

January 4, 2022

Fiduciaries to Utica, New York employee stock ownership plan agree to take actions to resolve violations found in US Department of Labor investigation

BOSTON An investigation by the U.S. Department of Labor has led the fiduciaries of a Utica, New York, employee stock ownership plan to agree to return $431,000 to the plan’s participants and take action to resolve its Employee Retirement Income Security Act violations.

December 30, 2021

US Department of Labor announces enforcement policy on disclosure requirements for group health plan service providers

WASHINGTON – The U.S. Department of Labor’s Employee Benefits Security Administration today released Field Assistance Bulletin 2021-03 announcing a temporary enforcement policy regarding the new fee transparency disclosure requirements added to the Employee Retirement Income Security Act for persons providing brokerage services and consulting to ERISA group health plans.

December 29, 2021

US Department of Labor releases Information Copies of the 2021 Form 5500 Series Annual Return/Report

WASHINGTON The U.S. Department of Labor’s Employee Benefits Security Administration, the IRS and the Pension Benefit Guaranty Corporation today released informational copies of the 2021 Form 5500 Annual Return/Report and related instructions – including the Form 5500-SF. The IRS also released the 2021 Form 5500-EZ and instructions, which are posted on the EBSA website.

December 21, 2021

US Department of Labor releases Supplemental Statement on private equity investments in participant-directed retirement savings plans

WASHINGTON ­– The U.S. Department of Labor today released a Supplemental Statement clarifying a June 2020 Information Letter on private equity investments as a component of a professionally managed asset allocation fund offered as an investment option in participant-directed retirement savings plans, such as 401(k) plans. 

December 15, 2021

Cincinnati businessman ordered to prison for defrauding workers of retirement benefits, earning contract with falsified documents

CINCINNATI – A federal judge in Cincinnati sentenced Ron Craig Estes to 18 months in prison on Dec. 14 after the Cincinnati businessman pleaded guilty to one count of theft or embezzlement from an employee benefit plan and one count of mail fraud.

December 14, 2021

Federal court holds Wisconsin business owner in contempt for failing to comply with the court’s prior order to restore $53,122 to employee benefit plan

MADISON, WI – A U.S. District Court judge in Wisconsin has held a Madison business owner in civil contempt of court after he failed to comply with a March 2021 consent order and judgment requiring him to restore $53,122 to the Thunderbird Engineering Inc. company’s 401(k) Plan.

December 6, 2021

Federal court sentences Louisville pharmacist to prison, orders $188K in restitution after US Department of Labor finds healthcare fraud

LOUISVILLE, KY – A Louisville pharmacist who fraudulently billed healthcare benefit plans for $188,157 in unfilled prescriptions will serve 9 months in prison and 2 years of supervised release after pleading guilty in federal court. 

November 23, 2021

US Department of Labor recovered more than $2.4B to employee benefit plans, participants, beneficiaries in fiscal year 2021

WASHINGTON  The U.S. Department of Labor announced today that enforcements by its Employee Benefits Security Administration recovered more than $2.4 billion in direct payments to plans, participants and beneficiaries in fiscal year 2021.

November 4, 2021

Federal court enforces US Department of Labor subpoena requesting documents for investigation of Lincolnshire company, Alight Solutions LLC

CHICAGO – A federal court in Chicago has ruled a Lincolnshire provider of employee benefit services must comply immediately with a U.S. Department of Labor administrative subpoena seeking documents for an Employee Benefits Security Administration investigation of unauthorized distributions from employee benefit accounts.

October 25, 2021

US Department of Labor announces temporary enforcement policy on prohibited transaction rules applicable to investment advice fiduciaries

WASHINGTON The U.S. Department of Labor’s Employee Benefits Security Administration today announced Field Assistance Bulletin 2021-02, “Temporary Enforcement Policy on Prohibited Transaction Rules Applicable to Investment Advice Fiduciaries.”

October 13, 2021

US Department of Labor proposes rule to remove barriers to considering environmental, social, governance factors in plan management

WASHINGTON ­– The U.S. Department of Labor today announced a proposed rule that would remove barriers to plan fiduciaries’ ability to consider climate change and other environmental, social and governance factors when they select investments and exercise shareholder rights.

October 5, 2021

US Department of Labor recovers $25K for Akron retirement plan after investigation finds company owner failed to forward contributions

AKRON, OH – After failing to timely forward $23,287 in employer contributions and employee payroll-deducted retirement contributions to his company’s individual retirement plan, an Akron business owner has been banned by a federal court from serving as a fiduciary in the future.

September 30, 2021

Biden-Harris administration issues third rule to implement No Surprises Act, protect Americans from surprise medical bills

WASHINGTON The Biden-Harris administration – through the departments of Labor, Health and Human Services, Treasury and the Office of Personnel Management – today issued an interim final rule with comment period to continue implementation of the No Surprises Act, a consumer protection law that helps curb the practice known as “surprise billing” for medical care.