2022 Trust Forum Presentations

Internal Use Only

DOL Enforcement

• The DOL is authorized to investigate any plan subject to ERISA, or any service provider handling plan assets. • DOL investigations are rarely random, and may be launched as a result of – • A participant complaint. • Information on a Form 5500 filing (e.g., disclosure of a prohibited transaction, rejected filing). • Information the DOL obtains in another investigation (e.g., an investigation of a service provider that is engaged by the plan). • Plan sponsor bankruptcies or other notable corporate filings/events.

Internal Use Only

DOL Enforcement

• DOL investigations have traditionally focused on – • Plan expenses / investments. • Delinquent contributions. • Missing participants. • Abandoned plans. • New focus areas include – • ESG (at least in the prior Administration). • Cybersecurity. • Cryptocurrency. • On H&W side, COVID claims administration and mental health parity.