Employee Benefits Security Administration January 2, 2009 – Federal Register Recent Federal Regulation Documents

Civil Penalties Under ERISA Section 502(c)(4)
Document Number: E8-31188
Type: Rule
Date: 2009-01-02
Agency: Employee Benefits Security Administration, Department of Labor
This document contains a final regulation that establishes procedures relating to the assessment of civil penalties by the Department of Labor under section 502(c)(4) of the Employee Retirement Income Security Act of 1974 (ERISA or the Act). The regulation is necessary to reflect recent amendments to section 502(c)(4) by the Pension Protection Act of 2006, under which the Secretary of Labor is granted authority to assess civil penalties not to exceed $1,000 per day for each violation of section 101(j), (k), or (l), or section 514(e)(3) of ERISA. The regulation will affect employee benefit plans, plan administrators and sponsors, fiduciaries, as well as participants, beneficiaries, employee representatives, and certain employers.