EBSA Achieves Total Monetary Results Exceeding $1.7 Billion
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Tuesday, February 28, 2006 |
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Through its enforcement of the Employee Retirement Income Security Act (ERISA), the Employee Benefits Security Administration (EBSA) is responsible for ensuring the integrity of the private employee benefit plan system in the United States. EBSA's oversight authority extends to approximately 730,000 pension plans and another 6 million health and welfare plans. These plans cover approximately 150 million workers and their dependents and include assets of more than $4 trillion.
The financial impact of EBSA's activities is impressive. Total monetary results for FY 2005 were more than $1.7 billion– the second highest annual result in agency history. Included in this figure is $709 million in assets restored to plans and benefits recovered for individual workers – an increase of nearly 120% over FY 2004, and up 161% from FY 2001.
You can read more at http://www.dol.gov/ebsa/newsroom/fs2005enforcementresults.html
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