DOL fines of $10,000+ are common in health & welfare plan audits

Did you know that the DOL’s EBSA agency has 873 FTE’s and nearly 80% of their $183 million budget dedicated for enforcement? 

Over the years, we’ve spoken to numerous employers and group benefit plan professionals and, if you’re like them, you’re probably thinking 1 of 2 things: either (a) “Wow! That’s a lot of resources, I better be prepared for an audit!” or (b) “So what? They’ll never get around to auditing me”.

We’d encourage you to think more along the lines of “Wow! That’s a lot of resources, I better be prepared for an audit!” but if you’re not, consider the following: In the first year of true audits; FY 2012, the EBSA achieved over $1.2 billion in total monetary results. That’s a 555% ROI. How well did your business do last year?

The DOL is not slowing down, protect your clients now!

Click Here to view the 2018 DEPARTMENT OF LABOR BUDGET IN BRIEF