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.

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.

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. 

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.

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.

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. 

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.

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.

DALLAS – The U.S.

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.”

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.

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.

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.

WASHINGTON, DC – The U.S. Department of Labor’s Employee Benefits Security Administration, IRS and the Pension Benefit Guaranty Corp.

HILLSIDE, IL – After a Hillside business owner failed to forward $10,184 in employee retirement contributions to his company’s retirement plan as required, a federal court barred him from serving as a fiduciary in the future for violating the Employee Retirement Income Security Act.

PHILADELPHIA – In an investigative and legal pursuit that spanned more than 18 years, the U.S. Department of Labor has obtained a final order in a Pennsylvania federal court and concluded its long-standing case against a disbarred attorney and former benefits plan fiduciary who gained personally by diverting millions from employee benefit plans.

GREEN BAY, WI – A federal judge has signed a default judgment against an Appleton company and ordered fiduciaries of the defunct company’s retirement plan to restore $41,869 in employee payroll-deducted retirement contributions and lost opportunity costs to the plan.

NEW YORK – United Behavioral Health and United Healthcare Insurance Co. will pay $13.6 million to affected participants and beneficiaries; pay $2,084,249 in penalties; and take other corrective actions following investigations and litigation by the U.S. Department of Labor and the New York State Attorney General.

LANSING, MI – A Lansing business owner who failed to forward $25,252 in employer contributions and $52,753 in employee payroll-deducted retirement contributions to his company’s individual retirement plan will pay $798 in court fines and costs after pleading guilty in Michigan’s 30th Circuit Court of Ingham County.