Labor & Employment Law Daily Wrap Up, DOL NEWS—ESOP fiduciaries settle allegations, will reimburse plans for $9.8M in total, (Jan 11, 2022)

By Glenn Borst, J.D., LL.M.

In one case, fiduciaries agreed to pay a $43,100 penalty to the DOL.

In two separate developments, fiduciaries of employee stock ownership plans (ESOPs) agreed to settle disputes with the Department of Labor (DOL) for a total of $9,824,132 after findings of financial abuses and ERISA violations by plan fiduciaries.

Overpaymen ...