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The Employee Benefit Security Administration is hurting Americans who save by failing to conduct investigations in a direct and timely manner, two Republican lawmakers wrote in a letter to acting Labor Secretary Julie Su.
"Prolonged investigations carried out by federal agencies such as EBSA create tremendous strain on retirement plan sponsors," House Health, Employment, Labor and Pensions Subcommittee members Virginia Foxx, R-N.C., and Bob Good, R-Va., wrote. "Plan sponsors report that many of EBSA's investigations have persisted for years while investigators assigned to these cases are turned over several times. Plan sponsors also report there often appears to be no direction or purpose to the investigations, and they are trapped in investigations that lack an objective, an enforced progress schedule or an endpoint."
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