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 ...

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