Employee Benefits Security Administration

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Employee Benefits Security Administration

An agency under the U.S. Department of Labor responsible for enforcing the Employee Retirement Income Security Act. Specifically, EBSA enforces a number of regulations designed to ensure that employers and other involved parties do not misuse the funds entrusted to them in retirement accounts. Among other provisions, EBSA requires retirement account managers to provide information to account holders on a regular basis. It also enforces standards for managers' use of discretionary authority. Until 2003, EBSA was known as the Pension and Welfare Benefits Administration, and before 1986 it was the Pension and Welfare Benefits Program.
References in periodicals archive ?
During her six years as EBSA chief, Borzi said she and her staff "worked closely with the SEC staff from the beginning" to ensure the rule was not in conflict with existing SEC rules to avert "a compliance bind," and to allow the SEC "to consider and/or develop its own rule consistent with the DOL rule for non-retirement securities investments if it chose to do so.
EBSA officials say they are trying to create a new class exemption for indexed annuity distributors because 22 distributors asked for a chance to apply for financial institution status, and because they believe an indexed annuity is a product that looks simpler than it really is.
In this regard, I would like to mention the Polish champion Kacper Filipiak, who defeated Scottish player Michael Leslie with a score of (6-3) in the 2011 EBSA European Under-21 Snooker Championships' final, held in the Maltese city of Qawra.
EBSA, PRIVATE PENSION PLAN BULLETIN: ABSTRACT OF 2010 FORM 5500 ANNUAL REPORTS 23-36 tbls.
If you are an eligible applicant and wish to avail yourself of excise tax relief under the VFC Program Class Exemption, have you made proper arrangements to provide within 60 calendar days after submission of this application a copy of the Exemption notice to all interested persons and to the EBSA regional office to which the application is filed?
It includes an examination of the structure and functions of the EBSA and covers civil and criminal enforcement, ESBA enforcement projects, party-in-interest transactions, investment fees, self-dealing, kickbacks and fiduciary duties.
A plan or applicant is not under investigation merely because the EBSA has contacted the plan, applicant or plan sponsor about a participant complaint, unless the complaint involves a transaction that is the subject of the VFC Program application.
EBSA has been pursuing an aggressive enforcement project by investigating the timing of employer payments into benefit plans and vigorously pursuing recoveries of diverted contributions and earnings, Cummings says.
EBSA works to safeguard the economic interest of more than 150 million people who participate in an estimated 6 million employee benefit plans with assets in excess of $4.
The EBSA does not provide a waiver provision and very few, if any, of the twenty-seven participating VWP countries will be able to meet this legislatively mandated deadline.
Related: Trump Names New EBSA Chief to Replace Borzi )