Labor Department Sponsors San Diego Workshop on Federal Pension and Health Law

Archived News Release — Caution: Information may be out of date.

San Francisco, California - The U.S. Department of Labor will hold a free workshop April 20 to help employers and health and pension plan fiduciaries better comply with the Employee Retirement Income Security Act, the federal law governing private employer pension and health benefit plans. The workshop will be held at Hampton Inn San Diego-Sea World/Airport, 3888 Greenwood Street.

The half-day workshop, sponsored by the Labor Department's Employee Benefits Security Administration (EBSA), will offer comprehensive information and individual help regarding the Voluntary Fiduciary Correction Program (VFCP). The program is designed to encourage plan fiduciaries to comply with the federal law covering privately sponsored pension and health plans.

The VFCP provides plan fiduciaries with an opportunity to identify and self-correct certain types of violations covered by the program. Participants must fully correct the violations; calculate any losses and restore those losses with interest or profits, and distribute any supplemental benefits owed to eligible participants and beneficiaries. The program also offers relief from Labor Department penalties and Internal Revenue Service excise taxes that might otherwise be imposed.

“This voluntary program is an effective component of our overall efforts to ensure that pension benefits are protected and available to employees when they need them," said Billy Beaver, regional director of EBSA in Los Angeles. “By assisting plan fiduciaries in resolving issues, we are helping both the employers and the employees.”

The workshop will begin at 9:30 a.m. with a brief overview of the program. EBSA staff will be on hand until noon to answer questions and provide one-on-one program assistance. The workshop is open to employers, accountants, plan fiduciaries, third party administrators, attorneys and anyone else with concerns regarding their responsibilities administering pension plans.

For more information on the VFCP and the workshop, please contact EBSA's Los Angeles regional office at 626.229.1000 or send an e-mail to vfcp-laro@dol.gov. You may also R.S.V.P. for the workshop to that e-mail address or by contacting Anne Gutierrez at 629.229.1008.

U.S. Department of Labor news releases are accessible on the Department's Newsroom page. The information in this news release will be made available in alternate format upon request (large print, Braille, audio tape or disc) from the COAST office. Please specify which news release when placing your request at 202.693.7765 or TTY 202.693.7755. The U.S. Department of Labor is committed to providing America's employers and employees with easy access to understandable information on how to comply with its laws and regulations. For more information, please visit the Department's Compliance Assistance page.

Archived News Release — Caution: Information may be out of date.

Contact Name: Roger Gayman
Phone Number: 415.975.4742