U.S. Labor Department Offers Free Seminar in New York City to Help Professionals Comply With Employee Benefits Law

Archived News Release — Caution: Information may be out of date.

New York, New York - The U.S. Department of Labor’s Employee Benefits Security Administration (EBSA) in New York City will hold a free seminar to assist employers, pension plan administrators and other benefit professionals comply with federal employee benefits law. The seminar will take place September 29, 2006 at the Broad Financial Center, 33 Whitehall Street, 11^th Floor Conference Room.

The seminar will offer comprehensive information and one-on-one help on how to utilize 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 action by the Department of Labor.

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 action. 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 that may otherwise be imposed. Information about the VFCP is available at www.dol.gov/ebsa.

The seminar will take place from 10:00am to noon 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, and early registration is advised. For information and to register, please contact Richard Stecher, of the EBSA New York office, by phone at 212.607.8645, by fax at 212.607.8681, or by e-mail to stecher.richard@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