On April 14, 2026, the Employee Benefits Security Administration (EBSA), part of the U.S. Department of Labor, issued a memorandum outlining its updated enforcement priorities and guiding principles. These principles aim to ensure that the agency’s approach to enforcement remains “fair, balanced, responsive, and focused.” Notably, the agency is shifting its focus toward violations related to the duty of loyalty, rather than the duty of prudence, in the management of employee benefit plans.

Employers are encouraged to regularly review their compliance with the fiduciary standards established under the Employee Retirement Income Security Act (ERISA). Special attention should be given to maintaining the duty of loyalty and avoiding prohibited transactions that could create conflicts of interest.

Key Takeaways:

• The EBSA memorandum provides a detailed framework for the agency’s enforcement priorities.
• The agency is prioritizing enforcement actions that target egregious misconduct, particularly violations involving disloyalty to plan participants or conflicts of interest.
• EBSA maintains a dedicated webpage with resources on ERISA’s civil and criminal violations, as well as its enforcement achievements and priorities.

Enforcement Activity Overview:

As the agency responsible for overseeing ERISA, EBSA plays a crucial role in enforcing fiduciary standards for employee benefit plans managed by private-sector employers. During the 2025 fiscal year, EBSA concluded 878 civil investigations, with 63% resulting in financial recoveries or corrective measures. Additionally, EBSA referred 75 cases for civil litigation and closed 253 criminal investigations, which led to 45 convictions, including for plan officials, corporate executives, and service providers involved in illegal activities related to employee benefit plans.

Enforcement Priorities and Principles:

The EBSA memorandum sets forth several guiding principles for enforcement:

1. Focus on Egregious Conduct: EBSA will concentrate on severe cases where there is direct evidence of disloyalty or conflicts of interest, particularly those that involve fiduciaries acting in ways that benefit themselves or advance objectives unrelated to the best interests of plan participants, such as environmental, social, or governance (ESG) goals.
2. Fair and Transparent Rulemaking: The agency emphasizes that it will not regulate through enforcement actions. Instead, EBSA will use the notice-and-comment rulemaking process and sub-regulatory guidance to shape its policy.
3. Senior Official Review: All significant enforcement cases, especially those involving new legal theories, novel areas of law, or deviations from previous agency positions, will undergo a review by senior EBSA officials.
4. Timely Enforcement: EBSA is committed to completing routine investigations—such as those involving delinquent contributions, disclosures, or bonding violations—within 18 months. More complex investigations are expected to be resolved within 30 months, unless there are exceptional circumstances.

By focusing on these priorities, EBSA aims to safeguard the integrity of employee benefit plans and ensure that fiduciaries are held accountable for their responsibilities under ERISA.