EBSA Reclaimed $1.4B for Retirement Plans in Fiscal 2025

The Department of Labor’s Employee Benefits Security Administration recovered more than $1.4 billion for retirement plans, participants and beneficiaries in fiscal year 2025, according to the agency. It is on par with fiscal 2024, when the agency said it recovered nearly $1.4 billion.

EBSA recovered most of the funds via enforcement actions, which accounted for $714.4 million of recovered funds, or approximately 51% of recovered funds, which was slightly down from fiscal year 2024, according to agency data.

The agency also said it recovered $468.7 million from informal complaint resolutions; $117.3 million from the Abandoned Plan Program; $39.1 million from the Voluntary Fiduciary Correction Program; and $67 million from No Surprise Act inquiries.

Along with its stated recoveries, EBSA reported closing 878 civil investigations, with 556 (63%) producing monetary results. The agency closed 253 criminal investigations, leading to 62 indictments or charges and 45 convictions.

In terms of non-monetary results, the agency said its enforcement actions led to the removal of 15 plan fiduciaries, barring of 24 individuals from serving as a retirement plan fiduciary; improving missing participant procedures for 49 defined contribution plans; and implementing corrections at 61 health plans that are governed by the Employee Retirement Income Security Act.

EBSA is responsible for enforcing ERISA, the main law protecting retirement plan participants and beneficiaries. The agency said it protects more than 156 million workers and retirees across approximately 2.6 million health plans, more than 800,000 retirement plans and 514,000 welfare benefit plans, which together contain nearly $13.8 trillion in assets.