DOL Releases Guidance on Investment Advice Exemption
This is meant to help retirement investors, employee benefit plans and investment advice providers.
Tag: Employee Benefits Security Administration
Investment Adviser Ordered to Pay $1.6M Restitution to Pension Plan
The Department of Labor's Employee Benefits Security Administration determined he defrauded $2 million from the Rehabilitation Center for Children & Adults Inc. Pension Trust
PANC 2018: DOL Audits of Retirement Plan Advisers
The DOL wants to ensure that retirement plan advisers are delivering on all services listed in their contracts with retirement plan sponsors.
Federal Court Orders Prison Term after Benefit Plan Theft
A Maryland business owner will serve one year and one day of imprisonment and pay more than $350,000 in restitution for violations of the Employee Retirement Income Security Act.
DOL Wins Restitution of Misused 401(k) Assets
A federal district court has ordered eye-care company Eye Centers of Tennessee LLC, its owner Dr. Larry E. Patterson, and its office administrator Raymond K. Mays to pay $971,622 in restitution to the company’s 401(k) plan.
Court Finds Pension Trustee Guilty of Embezzlement
The trustee is ordered to pay $234,271 in restitution, serve a year of probation and is barred from serving as a fiduciary to a benefit plan for 13 years.
Compliance News
Compliance
Legislative and Judicial Actions
Rutledge Takes EBSA HelmThe Department of Labor (DOL) has appointed Preston Rutledge head of its Employee Benefits Security Administration (EBSA). Rutledge is former senior tax and benefits counsel on...
EBSA Restores $1.1B to Benefit Plans, Participants and Beneficiaries
Nearly $700 million was in recoveries from enforcement actions.