Compliance Alert: DOL Announces Increased Health Plan Violation Penalties
QUICK FACTS The U.S. Department of Labor (DOL) recently issued its annual inflation-adjusted penalty amounts for certain Employee Retirement Income Security Act (ERISA) violations. The adjusted amounts are intended to create greater incentives to comply with certain federal laws applicable to health and welfare benefit plans. Federal agencies, including the DOL, are required to make annual adjustments to the adjusted civil penalty amounts by January 15 each year. The 2019 adjustments are effective for penalties assessed after January 23, 2019 with respect to violations occurring after November 2, 2015. BACKGROUND Legislation enacted in 2015 requires federal agencies to …
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