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PWBA Formally Changes Name to Employee Benefits Security Administration (EBSA)

"Changing the agency's name to the Employee Benefits Security Administration (EBSA) will more clearly communicate the agency's mission of protecting private sector employee benefits.... This order is effective upon the date of publication in the Federal Register."

Employee Benefits Security Administration Announces Launch of 401(k) Fee Disclosure Resource Website for Plan Participants

"The U.S. Department of Labor's Employee Benefits Security Administration has announced a new 401(k) fee disclosure website as a resource for consumers. The new site, http://www.dol.gov/ebsa/publications/understandingretirementfees.html, offers information on disclosures that, for the first time, will help workers with 401(k)-type retirement plans see what they are paying to invest their savings. It also includes new tips and tools on making smart retirement investment decisions."

DOL's Employee Benefits Security Administration Enforcement Actions and Results for 2000-2004 (PDF)

1 page chart. The Employee Benefits Security Administration reports that they achieved a 121% increase in enforcement results that protected $3.1 billion in retirement, health and other benefits for American workers and their families in fiscal year 2004.

Employee Benefits Security Administration Notice of Meeting: Advisory Council on Employee Welfare and Pension Benefit Plans

Excerpt: [T]he Working Groups assigned by the Advisory Council on Employee Welfare and Pension Benefit Plans to study the issues of (1) The spend down of retirement assets, (2) hard to value assets/target date funds, and (3) phased retirement, will hold a public teleconference meeting on September 29, 2008.

FY 2017 Congressional Budget Justification by the Employee Benefits Security Administration (PDF)

45 pages. "[$6,500,000 is] requested to support multiple pilots to implement new and different approaches to increasing retirement coverage in States, particularly for workers who are traditionally unable to access employment-based retirement benefits. Funds are requested through FY 2018 to allow sufficient time for inter-agency collaboration to craft grant solicitations that meet technical and evaluation requirements; the posting of grant solicitations with time to allow selected States to develop effective grant proposals; providing technical briefings and conducting outreach to better inform potential grantees; and the evaluation of proposals based on solicitation criteria to select grantees."

U.S. Department of Labor Issues Compliance Guidance for Employee Benefit Plans in Wake of Hurricane Sandy

"The guidance provided in this statement applies to employee benefit plans, plan sponsors, as well as service providers to such employers, located on October 26, 2012 in one of the counties or Tribal Nations that have been identified as covered disaster areas because of the devastation caused by Hurricane Sandy.... The Department recognizes that some employers and service providers acting on employers' behalf, such as payroll processing services, located in designated affected areas will not be able to forward participant payments and withholdings to employee pension benefit plans within the prescribed timeframe. In such instances, the Department will not, solely on the basis of a failure attributable to Hurricane Sandy, seek to enforce the provisions of title I with respect to a temporary delay in the forwarding of such payments or contributions to an employee pension benefit plan to the extent that affected employers, and service providers, act reasonably, prudently and in the interest of employees to comply as soon as practicable under the circumstances."

Fact Sheet: Retirement Security Initiatives Under the Employee Benefits Security Administration (PDF)

Excerpt: The [EBSA] is committed to safeguarding employee contributions to 401(k) plans and health care plans by investigating situations in which employers improperly delay forwarding employee contributions to the appropriate funding vehicle or simply convert the contributions to other non-plan uses. Either or both scenarios may occur when the employer is having financial problems and turns to the plan as a source of financing.

Labor Department Rule Expands Electronic Disclosure Options for Employee Benefit Plans

Press release, April 8, 2002. Excerpt: [DOL has] published a final rule expanding the options available for employee benefit plans interested in using electronic technologies to communicate employee benefit plan information.... [F]or non-workplace communications, participants and beneficiaries must be given certain basic information necessary to make an informed decision about receiving documents electronically, and then affirmatively consent to receive plan communications in electronic form.

Department of Labor Testifies in Support of Boehner Investment Advice Bill

"[Assistant Secretary] Ann L. Combs ... [on Tuesday July 17] testified before the House Committee on Education and the Workforce in support of the Retirement Security Act of 2001 to give plan participants greater access to investment advice. The legislation (H.R. 2269) would give plan participants access to 'fiduciary advisers regulated by state or federal laws and provide disclosure to participants about fees, limits on the scope of advice given and any conflicts of interest.' "

U.S. Labor Department Extends Annual Reports Deadline After Severe Storms and Flooding Hit New York

Excerpt: "The U. S. Department of Labor's Employee Benefits Security Administration (EBSA) ... announced an extension of the deadline for filing Form 5500 and Form 5500 EZ annual report/returns due to extensive damage from severe storms and flooding in New York. President Bush has declared a major disaster in 14 counties in the State of New York due to the damage caused by the storms. The extension applies to plan administrators, employers and other entities located in areas directly ...."