Client Alert: Penalties for Certain Employee Benefit Plan Violations Increased

The U.S. Department of Labor (DOL) recently issued an interim final rule that increases certain penalties under the Employee Retirement Income Security Act of 1974.  The increased penalty amounts apply to penalties assessed after August 1, 2016, for violations that occurred after November 2, 2015.  Beginning in 2017, the DOL will adjust the civil penalties no later than January 15 of each year.