DOL releases ERISA enforcement results for 2023  The U.S. Department of Labor released the results of the Employee Benefits Security Administration’s enforcement actions for fiscal year 2023.  Through its enforcement of ERISA, EBSA oversees approximately 2.8 million health plans, 765,000 pension plans and 619,000 other welfare benefit plans. According to the audit, these plans cover 153 million workers, retirees and dependents.  In FY 2023, EBSA recovered over $1.4 billion for plans, participants and beneficiaries. Other key enforcement results include:  EBSA closed 731 civil investigations. Of these, 69% resulted in monetary results for plans or other corrective actions.  EBSA referred 50 cases for civil litigation and closed 196 criminal investigations.  EBSA’s criminal investigations led to the indictment of 60 individuals for offenses related to employee benefit plans. This included plan officials, corporate officers and service providers.  EBSA’s...

  HSA/HDHP limits increase for 2024 On May 16, the IRS released Revenue Procedure 2023-23 to provide the inflation-adjusted limits for health savings accounts and high-deductible health plans for 2024. The IRS is required to publish these limits by June 1 of each year. These limits include: the maximum HSA contribution limit; the minimum deductible amount for HDHPs; and the maximum out-of-pocket expense limit for HDHPs. These limits vary based on whether an individual has self-only or family coverage under an HDHP. Eligible individuals with self-only HDHP coverage will be able to contribute $4,150 to their HSAs in 2024, up from $3,850 in 2023. Eligible individuals with family HDHP coverage will be able to contribute $8,300  to their HSAs in 2024, up from $7,750 in 2023. Individuals aged 55 or older may make an additional $1,000 “catch-up” contribution to their HSAs. The minimum deductible amount for HDHPs increases to $1,600 for self-only coverage and $3,200 for family cov...