PLANADVISER recapped one of their 2021 National Conference sessions titled “Investigation Lessons Learned From Experience,” which featured panelist and Faegre Drinker benefits and executive compensation partner Brad Campbell.
At the session, Campbell discussed best strategies for handling investigations from the Department of Labor (DOL) regarding compliance with the Employee Retirement Income Security Act (ERISA). The article summarizes the guidance Campbell provided on what to do when an investigation is initiated and shares insight he provided on DOL investigation timeframes.
The article also covers Campbell’s key takeaways on adviser reviews from the DOL, explaining that the DOL can investigate service providers to plans, whether they are fiduciaries or non-fiduciaries. Lastly, the publication highlights what Campbell said with regard to ERISA, SEC and other regulation overlap in investigations.