Assistant Secretary Ann L. Combs Announces Record Enforcement Results at Business Writers’ Conference

Archived News Release — Caution: Information may be out of date.

WASHINGTON—Ann L. Combs, assistant secretary of labor for the Pension and Welfare Benefits Administration, today addressed the annual conference as the keynote speaker of the Society of American Business Editors and Writers, held at The Wharton School of Business in Philadelphia, Pa.

Combs said, “We are committed to use every tool at our disposal to protect the benefits of American workers, retirees and their families. Our enforcement efforts have produced record recoveries for employee benefit plans and workers.”

Strong enforcement of the Employee Retirement Income Security Act is a major priority of the Labor Department. PWBA’s enforcement program deters and corrects violations of the law that impact the lives of more than 150 million people who depend on the financial security of retirement and health plans.

“"Last fiscal year, the PWBA achieved record monetary results of $832.4 million for plans and participants through enforcement actions. The agency closed a record 4,925 civil cases, with 1,940 cases resulting in monetary recoveries for plans. The largest proportion of cases closed with monetary results was 401(k) plan investigations.”

In addition, 155 criminal cases were opened and resulted in indictment of 134 individuals,” announced Combs.

Combs encouraged the business press to continue to educate the American workforce about retirement issues. A copy of the full speech will be available on PWBA’s website at www.dol.gov/pwba under Newsroom.

Archived News Release — Caution: Information may be out of date.