We use cookies on this site to enable your digital experience. By continuing to use this site, you are agreeing to our cookie policy. close

DOL Finalizes Pension Act Penalty Rule

Law360 (December 31, 2008, 12:00 AM EST) -- The U.S. Department of Labor can now fine pension plan administrators up to $1,000 a day for ignoring disclosure requirements set by the Pension Protection Act, including giving plan holders notice of withdrawal penalties.

On Wednesday, the Labor Department announced it had finalized a regulation authorizing it to assess civil penalties against plan administrators who don't meet the PPA's new disclosure rules.

The final rule — which was scheduled to be published in the Federal Register on Jan. 2 — lays out exactly how those types...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.