U.S. Labor Department Sponsors Seminar in Charlotte, North Carolina On Complying With Federal Employee Benefits Law

Archived News Release — Caution: Information may be out of date.

Charlotte, North Carolina - The U.S. Department of Labor’s Employee Benefits Security Administration (EBSA) in Atlanta will hold a seminar to assist employers, pension plan administrators and other benefit professionals comply with federal employee benefits law. The Charlotte, North Carolina seminar will be held August 22, 2006, at the Embassy Suites, 4800 South Tryon Street.

The seminar will offer comprehensive information and one-on-one help on how to use the Voluntary Fiduciary Correction Program (VFCP) to self-correct violations of the Employee Retirement Income Security Act (ERISA). The program is designed to make it easier for benefit managers and professionals to comply with ERISA and avoid enforcement actions by the department.

The VFCP provides plan fiduciaries and others with an opportunity to identify and correct plan activities that might otherwise make them the subject of investigative or enforcement actions. Applicants under the program must fully correct any prohibited transactions, calculate any losses and restore those losses with interest or profits, and distribute supplemental benefits owed to eligible participants and beneficiaries. The program also offers relief from Labor Department penalties and Internal Revenue Service excise taxes. Information about the VFCP is available at www.dol.gov/ebsa.

The seminar will take place from 8:30 a.m. to 1:00 p.m. and offers an overview of the program. EBSA staff also will provide one-on-one program assistance and guidance on the application process. The seminar is free and open to employers, accountants, plan fiduciaries, third party administrators, attorneys and anyone with concerns about their responsibilities in administering employee benefit plans.

Registration is on a first-come, first served basis so individuals should register as soon as possible, to ensure space availability. To register and obtain more information, contact Dannette Harvey, of EBSA’s Atlanta office by phone at 404.562.2156, by fax at 404.562.1887, or by e-mail to harvey.dannette@dol.gov.

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: David James/Gloria Della
Phone Number: 202.693.4676/202.693.8666