Like clockwork, by January 15th of every year, the Department of Labor releases the annual penalty fees, typically increased to match inflation. Wrangle’s mission is to help you and your client navigate through ERISA compliance to avoid ever reaching these penalties. Here are 2023’s annual penalty fees:
Please note:Â The chart above reflects only a handful of those released on January 15th. For the complete list click here for the source.
Other penalties not subject to the Inflation Act but rather the DOL’s Enforcement Manual are:
If you have any questions, please contact Ann McAdam, Project Manager: amcadam@wrangle5500.com.