GAO Report Sheds Light on DOL’s Application of ERISA | Eversheds Sutherland (United States) LLP



In a report released on May 27, 2021, the United States Government Accountability Office (GAO) released the results of a 15-month investigation into the application of the 1974 Employee Retirement Income Security Act, as amended (ERISA) by the Ministry of Labor. (DOL). The GAO last conducted such a survey in 2007. The stated objective of the survey was to examine DOL’s management and strategies to improve the ERISA application process, as well as the immediate challenges. and long term presented by COVID-19. In doing so, the report elaborates or confirms a number of instructive details about the ERISA application process.

For your information, DOL’s ERISA enforcement activity is mainly carried out from its 10 regional offices of the Employee Benefits Security Administration (EBSA), with the support of the EBSA national office ( Office of Enforcement, Office of the Chief Accountant, Deputy Assistant Secretary for National Operations, and Deputy Assistant Secretary for Regional Office Operations) and the Prosecutor’s Office and the Office of the Inspector General of DOL. Individual investigators in regional offices have a substantial responsibility for identifying and initiating investigations, subject to priorities established by the national office and the respective regional office.

Please see the full publication below for more information.



Source link

Previous What the new UK money laundering law means for fintechs
Next If you love EPS growth, check out the WD-40 (NASDAQ: WDFC) before it's too late