DOL Publishes Pension Protection Act Penalty Rules

Law360, New York (December 18, 2007, 12:00 AM EST) -- The U.S. Department of Labor has published proposed rules detailing the civil penalties pension plan administrators would face if they ignore new disclosure provisions in the Pension Protection Act.

The Pension Protection Act of 2006 gave the Labor Department the authority to assess monetary penalties of up to $1,000 per day against plan administrators who violate the new requirements.

The proposed rules published in the Federal Register Wednesday lay out exactly how those types of penalties would be assessed, and provides a method for plan administrators...
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