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On Jan. 2, 2018, the Department of Labor (DOL) published a final rule that sets forth its annual inflation adjustments to civil monetary penalties. The DOL is required to adjust these penalties for inflation no later than Jan. 15 each year.

In order to compute the 2018 annual adjustment, the DOL multiplied the most recent penalty amount for each applicable penalty by the multiplier, 1.02041, and rounded to the nearest dollar.

The increased penalty levels apply to any penalties assessed after the effective date of this rule. Accordingly, for penalties assessed after Jan. 2, 2018, whose associated violations occurred after Nov. 2, 2015, the higher penalty amounts outlined in this rule will apply.

Calculated penalty amounts for specific violations can be viewed here. For more information, contact Emery Benefit Solutions at sue@emerybenefitsolutions.com