The Department of Labor’s just released recovery monies for 2019 showed a 162% increase from 2018 ($2.6 v $2.1 billion), and a 236% increase from 2017 ($2.6 v $1.1 billion).
Why, and what does this mean for you?
We’ve had discussions with our D.O.L. sources and couldn’t get anything on record, but safe to say, now is the time to have your plan in fiduciary compliance. If you’re not absolutely certain regarding the compliance of your plan we suggest you contact us to ensure that your plan is in compliance.
This linked PDF has a breakdown of the recoveries including the number of investigations, the number or people indicted on criminal charges for fiduciary violations, and other interesting details.
If you have questions please call us at 925-250-4030 or email email@example.com
Get helpful industry commentary and pertinent news articles from a wide variety of sources! Follow us on LinkedIn.