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Member, Beacon International Group, Ltd.
The Employee Benefits Security Administration, part of the Labor Department, recovered $1.4 billion for the benefit of plan participants through various programs, for fiscal year 2022, reports Plansponsor. The amount restored has been declining for the past few years: In FY 2021, EBSA recovered $2.4 billion, and in FY 2020, a record $3.1 billion for plan participants. The bulk of the money, $931 million, was regained through enforcement actions and investigations.