U.S. Labor Department to sponsor free workshop in Phoenix on complying with employee benefits law

Archived News Release — Caution: Information may be out of date.

San Francisco – The U.S. Department of Labor’s Employee Benefits Security Administration (EBSA) will hold a free workshop in Phoenix on April 3 from 8 to 10 a.m. MST to help employers, the employee benefit community and others better comply with federal employee benefits law. The workshop will take place at the Arizona Small Business Administration Entrepreneurial Center, 4130 E. Van Buren Street, Suite 140.

The workshop will offer comprehensive information and individual help regarding the department’s Voluntary Fiduciary Correction Program (VFCP), which provides an opportunity to identify and self-correct plan activities that might otherwise result in investigative or enforcement action. EBSA staff will be on hand during the day to provide one-on-one program guidance on the application process.

“The VFCP is an effective strategy in protecting the pension benefits of America’s workers,” said Billy Beaver, director of the agency’s Los Angeles Regional Office. “Through this voluntary program, EBSA helps employers resolve issues related to employee benefit plans that they sponsor.”

VFCP participants must fully correct eligible transactions, calculate any losses, restore those losses with interest or profits, and distribute any supplemental benefits owed to eligible participants and beneficiaries. The program offers relief from Labor Department penalties and, in some cases, from Internal Revenue Service excise taxes that may otherwise be imposed. Additional information regarding the VFCP is available on EBSA’s Web page at www.dol.gov/ebsa.

Anyone with concerns about responsibilities in administering pension plans may attend this workshop. To sign up or obtain additional information, contact Wendy Morgan at 626.229.1032 or morgan.wendy@dol.gov, or EBSA’s Los Angeles Regional Office at 626.229.1000 or toll-free at 800.444.3272.

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.