Bloomberg Law
Free Newsletter Sign Up
Login
BROWSE
Bloomberg Law
Welcome
Login
Advanced Search Go
Free Newsletter Sign Up

Labor Agency’s Employee Benefits Recoveries Drop in Fiscal 2021

Nov. 23, 2021, 9:38 PM

The U.S. Labor Department’s employee benefits arm recovered more than $2.4 billion in enforcement actions in fiscal 2021, a decrease from the prior year, the agency announced Tuesday.

The Employee Benefits Security Administration’s recovery figure was on par with its five-year average of $2.2 billion but a dropoff from the $3.1 billion it recorded in fiscal 2020.

The agency oversees millions of retirement, health, and other worker-benefit programs that cover 158 million workers and hold roughly $13 trillion in combined assets. The agency closed 1,072 investigations in fiscal 2021 ending Sept. 30, 69% of which resulted in monetary relief or ...