Civil Penalties Under ERISA Section 502(c)(4)

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Docket ID : EBSA-2007-0050
Agency : Employee Benefits Security Administration (EBSA)
Parent Agency : Department of Labor (DOL)
Summary :
This proposed regulation, upon adoption, would implement the civil penalty provision under section 502(c)(4) of the Employee Retirement Income Security Act of 1974 (ERISA) to reflect recent amendments to section 502(c)(4) by the Pension Protection Act of 2006, under which the Secretary of Labor is granted authority to assess civil penalties not to exceed $1,000 per day for each violation of section 101(j), (k), or (l), or section 514(e)(3) of ERISA.
RIN : 1210-AB24
Impacts and Effects : None
CFR Citation : 29 CFR 2560.502c-4
Priority : Other Significant
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Publication Period: Spring 2009
Agenda Stage of Rulemaking: Completed Action
Major Rule: No
Legal Authorities: 29 USC 1132; PL 109-280, sec 103(b), sec 502(a), sec 502(b), sec 902(f), Pension Protection Act of 2006, 29 USC 1135; ERISA sec 505
Legal Deadlines: None
Government Levels Affected: No
Federalism Implications: No
Unfunded Mandates: No
Requires Regulatory Flexibility Analysis: No
Small Entities Affected: No
International Impacts: No
Energy Effects: No
Included in Regulatory Plan: No
Timetable
Action Date FR Citation
NPRM 12/19/2007 72 FR 71842
NPRM Comment Period End 02/19/2008
Final Action 01/02/2009 74 FR 17
Final Action Effective 03/03/2009
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Related RINs: None
Related Dockets: None
Type: Rulemaking
Organization: ORI