Is the DOL knocking on your door? For many employers, it’s not a matter of “if” but “when” to expect the Department of Labor on your doorstep. Will you be prepared?
The recent financial crisis created numerous challenges for businesses, including one that may plague business owners well into the future. As is typical when the financial markets retreat, retirement plan account balances go down and participant complaints to the DOL may go up. Because the recent recession has been unusually lengthy and the financial markets slow to demonstrate a sustained rally, this may result in an unprecedented number of complaints by participants. A large number of DOL investigations originate from participant complaints.
