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FAQ: DOL Penalties 2019

The U.S. Department of Labor published the increased monetary penalties applicable to employee benefit plans under the Employee Retirement Income Security Act (ERISA) in accordance with the Federal Civil Penalties Inflation Adjustment Act. The increased penalties generally relate to employee benefit reporting and disclosure failures if the penalty is assessed after January 23, 2019 and if the violation occurred after November 2, 2015. The following table lists the major ERISA penalty statutes, briefly describes the potential ERISA violations and applicable penalty amounts that might be assessed after January 23, 2019:

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