U.S. Labor Department sponsors free workshop to help plan professionals in New York comply with federal employee benefits law

Archived News Release — Caution: Information may be out of date.

New York – The U.S. Department of Labor’s Employee Benefits Security Administration (EBSA) will hold a free workshop to help employers, pension plan administrators and other benefit professionals comply with federal employee benefits law. The workshop will be held on December 14, from 10 a.m. to noon EST, at the Labor Department’s Lower Level Conference Center, 1400 Old Country Road in Westbury, New York.

The workshop will offer comprehensive information and one-on-one help regarding how to apply to and 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 Labor Department.

The VFCP provides plan fiduciaries and others with an opportunity to identify and correct plan activities that might otherwise make them subjects of investigative or enforcement actions. Applicants 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 workshop is open to employers, accountants, plan fiduciaries, third party administrators, attorneys and anyone else concerned about responsibilities in administering employee benefit plans. Registration, limited to 25 people, is on a first-come, first-served basis, so individuals should register as soon as possible to ensure space availability. For more information and to register, please contact Richard Stecher in EBSA’s New York office by telephone at 212.607.8645, by fax at 212.607.8681 or by e-mail at 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 202.693.7828 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.