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Code of Federal Regulations (Last Updated: April 5, 2024) |
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Title 29 - Labor |
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Subtitle B - Regulations Relating to Labor |
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Chapter XXV - Employee Benefits Security Administration, Department of Labor |
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SubChapter G - Administration and Enforcement Under the Employee Retirement Income Security Act of 1974 |
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Part 2575 - Adjustment of Civil Penalties Under ERISA Title I |
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Subpart A - Adjustment of Civil Penalties Under ERISA Title I |
§ 2575.3 - Subsequent adjustments to civil monetary penalties.
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§ 2575.3 Subsequent adjustments to civil monetary penalties.
No later than January 15, starting in 2017, and each subsequent year, the Secretary shall adjust for inflation, as required by the Inflation Adjustment Act, the civil monetary penalties described in § 2575.2 for violations occurring on or after November 2, 2015, and any future civil monetary penalties enforceable by the Secretary under title I of ERISA and . The Secretary shall publish such annual adjustments in the Federal Register notwithstanding section 553 of the Administrative Procedures Procedure Act. Future penalties or adjustments to the amount of the penalty that are enacted by statute or regulation (other than an adjustment for inflation under the Inflation Adjustment Act) will not be adjusted for inflation in the first year those penalty levels take effect. Annual inflation adjustments shall apply to penalties assessed after the later of January 15 or the date notice of the annual inflation adjustment is published in the Federal Register.