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DOL retirement plan non-compliance fines up 33 percent

In 2013, the DOL collected $1.69 billion in fines, voluntary fiduciary corrections and informal complaint resolutions, a 33 percent increase over 2012s $1.27 billion tab.

By Paula Aven Gladych | Updated on February 04, 2014

If a company retirement plan isn’t in compliance with IRS or Department of Labor regulations, both employers and employees could be hurt financially.

In 2013, the DOL collected $1.69 billion in fines, voluntary fiduciary corrections and informal complaint resolutions, a 33 percent increase over 2012’s $1.27 billion tab.

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