The Department of Labor just released its Five Year Strategic Plan for Fiscal Years 2006-2011. One of the DoL’s four strategic goals is to strengthen economic protections for workers which includes enhancing pension and health benefit security.

Here are the DoL’s national projects for that goal in 2006:

  • The Employee Contributions Project is aimed at ensuring the timely deposit of participant contributions to 401(k) plans and health care plans.
  • The Employee Stock-Ownership Plans (ESOP) project focuses on the unique violations arising from ESOPs, the most serious of which generally involve the incorrect valuation of employer securities.
  • The Health Fraud/Multiple Employer Welfare Arrangements (MEWAs) project, through which EBSA investigates abusive and fraudulent MEWAs created by unscrupulous promoters who sell the promise of inexpensive health insurance, but default on their obligations.
  • The Rapid ERISA Action Team (REACT) project responds in an expedited manner to protect the rights and benefits of plan participants when the plan sponsor faces severe financial hardship or bankruptcy, which may put the assets of the employee benefit plan in jeopardy.
  • The Consultant/Advisor Project (CAP) focuses on the receipt of improper, undisclosed compensation by pension consultants and other investment advisers.

Here is the link to the full DoL Strategic Plan (94 pages, PDF).

Hat tip to Workplace Prof Blog.