Labor Department enforces ERISA
This week, two dozen employers across the country were accused of taking a total of $7 million of their employees’ retirement plan and health care plan by the U.S. Department of Labor’s Employee Benefits Security Administration. The U.S. Labor Department is protected under the ERISA, or the Employee Retirement Income Security Act, to conduct investigations into employers.
Investigators found that the employers were using the money that employees contributed to their retirement and health care accounts for their own purposes, rather than being distributed into their plans. Secretary of the Department of Labor Hilda K. Solis stated, “Employees sacrificed wages to provide important benefits for themselves and their families. These enforcement actions underscore the Labor Department’s commitment to ensure that these workers’ contributions are protected and available to pay future benefits”.
Contact the Indiana ERISA lawyers of Hankey Law Office P.C. at (800) 520-3633 if you or someone you know has been the victim of a violation of the Employee Retirement Income Security Act.