Foxx, Good Sound Alarm Over DOL's Investigations Hurting American Savers

Letter

"Disturbing reports from stakeholders indicate that EBSA is failing to conduct its enforcement in a timely manner, creating unacceptable burdens for retirement plan sponsors and negatively impacting retirement savers, retirees, and their families.

Prolonged investigations carried out by federal agencies, such as EBSA, create tremendous strain on retirement plan sponsors. Plan sponsors report that many of EBSA's investigations have persisted for years while investigators assigned to these cases are turned over several times. … Plan sponsors also report there often appears to be no direction or purpose to the investigations, and they are trapped in investigations that lack an objective, an enforced progress schedule, or an endpoint."

Source