Compliance Coordination Following a DOL Inquiry

A $14M plan sponsor received a formal inquiry from the Department of Labor regarding participant notice deficiencies and disclosure gaps identified in a routine audit. The inquiry covered multiple years of required participant communications, including Summary Plan Description delivery, ERISA Section 404(a)(5) fee disclosures, and blackout notices.

Regency was engaged to coordinate the plan sponsor's response. This included a comprehensive review of all required documentation, identification of the specific gaps cited by the DOL, preparation of the formal response, and implementation of corrective measures for each deficiency.

Following resolution of the inquiry, Regency established an ongoing compliance monitoring cadence — ensuring that all required notices, disclosures, and fiduciary documentation would be delivered on schedule going forward. The plan sponsor now operates with a documented compliance infrastructure that supports a defensible fiduciary record.