Which entity is primarily responsible for the jurisdiction of pension plan rights?

The Department of Labor (DOL) is primarily responsible for the jurisdiction of pension plan rights. This agency oversees and enforces the Employee Retirement Income Security Act (ERISA), which establishes standards for retirement and health benefit plans to protect the interests of employee participants and beneficiaries. Under ERISA, the DOL has the authority to regulate the plan administration, investment, and reporting requirements, ensuring that participants are informed of their rights and can pursue remedies for violations.

In contrast, the IRS focuses on the taxation aspects of retirement plans, ensuring compliance with tax laws and regulations related to qualified plans. The Securities and Exchange Commission (SEC) oversees the regulation of securities and the protection of investors in the capital markets but does not specifically manage pension plans. The Financial Accounting Standards Board (FASB) establishes accounting standards applicable to various entities but is not responsible for overseeing pension plan rights directly. Thus, the DOL's role is central to the governance and protection of pension plan participants' rights.