The last thing any human resources professional wants to receive is an envelope alerting them to a Department of Labor (DOL) ERISA Investigation.

Unfortunately, today's HR professionals have reason to be concerned as 75 percent of DOL investigations are closed with correction. Corrections can range from changes to administrative processes, fines, penalties, and in rare cases, imprisonment.

Depending on the violation, non-compliance with ERISA can lead to fines and penalties ranging from $110 to $1,100 per day, and exposure to potential lawsuits from current and former employees. In addition, a typical investigation provides the employer a mere three weeks to gather the requested documents and schedule interviews with plan fiduciaries.

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