For complex laws like ERISA, compliance failures are often unintentional. (Photo: Shutterstock)
The annual increase in civil penalties for violations under ERISA that took effect in January serves as an important reminder to employers to assess their compliance initiatives. All employers (with the exception of churches and government agencies) who offer retirement, health and welfare plans to their employees face stiff penalties if found in violation for failure to comply with mandatory disclosure and reporting requirements.
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