FY 2007: EBSA Enforcement Brings In $1.5 Billion, 115 Criminal Indictments
Bradford P. Campbell, assistant secretary of labor for the Employee Benefits Security Administration, recently announced that the agency achieved monetary results of $1.5 billion and 115 criminal indictments in Fiscal Year 2007.
EBSA closed 3,236 civil investigations in FY 2007, nearly 75 percent of those investigations resulted in correction of violations under the Employee Retirement Income Security Act. The agency also achieved a 43 percent increase in the number of criminal investigations closed with either a guilty plea or with a criminal conviction.
Criminal investigations, including participation in criminal investigations with other law enforcement agencies, led to the indictment of 115 individuals for crimes involving pension, health, and other benefit programs.
Approximately $96 million of the 2007 results were achieved through informal complaint resolution under the agency's participant assistance program. EBSA's Voluntary Fiduciary Correction Program received 1,451 applications and $130 million in results.
A fact sheet of the results is available at www.dol.gov/ebsa.