Enforcement actions by the Employee Benefits Security Administration restored or protected a total of $3.1 billion in retirement and health benefits, mostly in pensions, in fiscal 2004, ended Sept. 30, said Ann Combs, assistant Labor secretary who heads the administration. Ms. Combs said there was no breakdown of retirement assets. EBSA closed 4,399 civil investigations in the fiscal year, with almost 70% resulting in corrections of ERISA violations. Also, criminal investigations led to the indictment of 121 individuals, she said.
In addition, the administration received 474 applications from employers and plan sponsors to participate in its compliance assistance program.