U.S. Labor Department to sponsor free Bay Area workshops on complying with federal pension law

Archived News Release — Caution: Information may be out of date.

San Francisco – The U.S. Department of Labor’s Employee Benefits and Security Administration (EBSA) will hold free, half-day workshops on December 8, 10 a.m. and 2 p.m. PST, to help employers, the employee benefit community and others better comply with federal pension law. The workshops will be held at the Ronald V. Dellums Federal Building, 1301 Clay St., 5th Floor North Tower, Conference Room H, Oakland, California.

The workshops 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 incur investigative or enforcement actions. EBSA staff will be on hand to provide one-on-one program assistance and 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 San Francisco 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 also 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.

Availability is limited and pre-registration is recommended. For more information on the program and the workshops, contact EBSA’s San Francisco Regional Office at 415.625.2481. There are several ways to register. Registration forms for the events can be downloaded at www.dol.gov/ebsa and faxed to EBSA. Look for Oakland, California, events under “Compliance Assistance Seminars.” Or, contact Audrey W. Chan at 415.625.2445 or e-mail EBSA at VFCP-SFRO@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 (large print, Braille, audio tape or disc) from the COAST office upon request. Please specify which news release when placing your request at 202.693.7828 or TTY 202.693.7755. The Labor Department 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.