Violation Tracker Individual Record

Company: 
National Rural Electric Cooperative Association
Penalty: 
$27,272,727
Year: 
2012
Date: 
July 5, 2012
Offense Group: 
employment-related offenses
Primary Offense: 
benefit plan administrator violation
Violation Description: 

The National Rural Electric Cooperative Association agreed to restore $27,272,727 to three association-sponsored employee benefit plans covered by the Employee Retirement Income Security Act. The agreement followed an investigation by the U.S. Department of Labor's Employee Benefits Security Administration that found the association selected itself as a service provider to the plans, determined its own compensation and made payments to itself that exceeded NRECA's direct expenses in providing services to the plans, in violation of ERISA.

Level of Government: 
federal
Action Type: 
agency action
Agency: 
Employee Benefits Security Administration
Civil or Criminal Case: 
civil
Source Notes: 
If an online information source is not working, check the Violation Tracker Data Sources page for an updated link.
Parent company note: 
Parent-subsidiary relationship is current as of the most recent revision listed in the Update Log.