Employee Benefits Security Administration (EBSA) restores over $1.1 Billion to Employee Benefit Plans, Participants and Beneficiaries

Sheri A. Creger, CPFA Ι October 11, 2018

You don’t want to be part of this statistic! Blind reliance is inappropriate. Plan sponsors and other fiduciaries have a responsibility to protect the interests of workers and retirees in their benefit plans.

According to the DOL Fact sheet for 2017 the EBSA’s oversight authority extends to nearly 681,000 retirement plans, approximately 2.3 million health plans, and a similar number of other welfare benefit plans, such as those providing life and disability insurance. These plans cover about 143 million workers and their dependents and include assets of over $8.7 trillion (as of October 2, 2015). In FY 2017, EBSA recovered $1.1 billion in direct payment to plans, participants and beneficiaries.

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