The Employee Benefits Security Administration (EBSA) announced that during fiscal year 2015, enforcement actions that it brought to enforce the Employee Retirement Income Security Act (ERISA) resulted in the recovery of $696.3 million for direct payment to plans, participants and beneficiaries.
EBSA's oversight authority extends to nearly 681,000 retirement plans, approximately 2.3 million health plans, and a similar number of other welfare benefit plans, such as those providing life or disability insurance.
These plans cover about 143 million workers and their dependents, and, as of October 2, 2015, include assets of more than $ 8.7 trillion.
Of the monies recovered, a total of $265.3 million came from plan assets restored and/or participant benefits recovered.