The average time it takes per month for small employers to stay abreast of all the changes to health care is 13 hours and a monthly cost of $1,274 - and that's just on the administrative side of understanding the law itself (National Small Business Association, 2014).
Through its enforcement of ERISA regulations, the DOL recovered over $599.7 million for direct payment to plans, participants and beneficiaries in 2014 (Department of Labor, 2014).
In 2014, the DOL closed 3,928 civil investigations related to ERISA violations, with 2,541 of those cases (64.7%) resulting in monetary results for plans or other corrective action (Department of Labor, 2014).
The DOL closed 365 criminal investigations, which led to the indictment of 106 individuals - including plan officials, corporate officers, and service providers - for offenses related to employee benefit plans (Department of Labor, 2014).
Complaints received through the DOL's toll-free number and website are a major source of enforcement leads. Repeated complaints of a particular plan or employer are referred for investigation. In 2014, the informal complaint resolution led to the recovery of $356.2 million (Department of Labor, 2014).
Tarpey Group can assist employers in the Delinquent Filer Voluntary Compliance Program (DFVCP), which encourages the self-correction of violations of ERISA.
22% of new hires leave their jobs within 45 days of being hired.
New hires that undergo a structured on-boarding program are 58% more likely to be with the company after three years.
Average settlements for negligent hiring suits top $1.6 million.
The costs of employee turnover range from 30% to 150% of the employee's salary.
75% of business and HR leaders are struggling to attract and recruiting the top people they need.
It can cost a small business approximately $3,665 to recruit just one candidate.
A person found to have willfully violated the record keeping requirements can face