Is Some PEP trust account information private?

The US DOL is auditing one employer that is participating in a PEP. The DOL has requested a copy of the trust agreement for 2022, which provides disbursement information for all participants in all the participating employers in the PEP.

The DOL refuses a consolidated/summary version and wishes to see all approx. 4000 pages.

Is information on distributions to participants not employed by the company being audited private? Should any redaction be made?

Even if her investigation has a focus about one employer, the Secretary of Labor has broad powers to examine almost anything about an ERISA-governed employee-benefit plan.

With further powers, the Secretary may “require the submission of reports, books, and records, and the filing of data in support of any information required to be filed with the Secretary under [ERISA].” For example, the Labor department may require production of every record behind any entry in the whole pooled-employer plan’s Form 5500 report.

ERISA § 504(a)(1), 29 U.S.C. § 1134(a)(1) http://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title29-section1134&num=0&edition=prelim.

And that power applies even if the Labor department has no reason to suspect even a potential ERISA violation.

Compare § 504(a)(1) with § 504(a)(2).

On 9/25/2023 at 4:16 PM, With Appreciation.... said:

The DOL has requested a copy of the trust agreement for 2022, which provides disbursement information

With Appreciation, "trust agreement" normally means the legal document between the employer(s) and trustee(s) creating trust. The distribution and other disbursement ledger is usually called a "trust report." Just sayin'.