FOR GOVERNMENTAL OVERSIGHT OF RETIREMENT PLANS, YOU NEED TO WORRY ABOUT THE AGENCY WITH THE THREE INITIALS – SPOILER ALERT; IT’S NOT THE IRS

FOR GOVERNMENTAL OVERSIGHT OF RETIREMENT PLANS, YOU NEED TO WORRY ABOUT THE AGENCY WITH THE THREE INITIALS – SPOILER ALERT; IT’S NOT THE IRS

By: David I Gensler, MSPA, MAAA, EA

Governmental oversight and compliance of retirement plans has largely shifted away from the IRS over to the Department of Labor (the DOL). At the American Society Of Pension Professionals and Actuaries (ASPPA) national conference in Washington, two speakers, J.K. Nowiejski and Heather Agribo made it abundantly clear that the DOL means business. They cited some daunting statistics. In 2016, the DOL’s Employee Benefit Security Administration (EBSA – remember, the government loves acronyms) engaged in the following enforcement activities: Read More