The Retirement Plan Company (TRPC)/an ABG firm
Compensation Strategies Group, Ltd.
Atlantic Pension Services Inc
Nicholas Pension Consultants
Creative Pension Consultants, Inc.
Nova 401(k) Associates
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|Text of DOL Federal Civil Penalties Inflation Adjustment Act Annual Adjustments for 2021|
U.S. Department of Labor [DOL]
Jan. 14, 2021
30 pages. "This rule implements the 2021 annual inflation adjustments, as required by the Inflation Adjustment Act, for civil monetary penalties assessed or enforced by the Department, including H-2B civil monetary penalties. The Inflation Adjustment Act provides that the increased penalty levels apply to any penalties assessed after the effective date of the increase.... The cost-of-living adjustment multiplier for 2021, based on the Consumer Price Index (CPI-U) for the month of October 2020, not seasonally adjusted, is 1.01182. In order to compute the 2021 annual adjustment, the Department multiplied the most recent penalty amount for each applicable penalty by the multiplier, 1.01182, and rounded to the nearest dollar. This resulted in increases to all but four of the penalties administered by the Department." [Includes table of effective dates, penalty amounts for employee benefit plan provisions administered by EBSA, and FMLA penalties administered by WHD.]
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