Department of labor (DOL)

Definition

Government owned institution, responsible for monitoring and promoting the welfare of employees and job-seekers.

The DOL provides information on rules and regulations on topics, which includes general employee benefits, retirement plans and cafeteria plans.

They also provide interpretative bulletins on regulations, which provides much needed guidance to retirement plan practitioners and  providing regulations in some instances .

Referring Cite

www.dol.gov

Additional Helpful Information

• Employees may contact the DOL for assistance, if they feel they are not receiving the proper retirement  benefits.
• The DOL is responsible for the oversight of ERISA
• The DOL is charged with many other responsibilities

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