U.S. Department of Labor offers free workshop in New York City on complying with federal pension law

New York City – The U.S. Department of Labor’s Employee Benefits Security Administration (EBSA) will hold a free workshop on April 28 from 10 a.m. to 1 p.m. EDT to help employers, the employee benefit community and others better comply with federal pension law. The workshop will be held at 33 Whitehall Street, 11th Floor in Manhattan.

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 a vital tool to protect the pension benefits of America’s workers,” said Jonathan Kay, director of the agency’s New York 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 the 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. The registration form can be downloaded at www.dol.gov/ebsa and faxed to EBSA. Look for New York City events under “Compliance Assistance Seminars.” For more information on the program and the workshops, contact EBSA’s New York Regional Office at 212.607.8600. To register, contact Jeffrey Singer at 212.607.8663 or e-mail EBSA at singer.jeffrey@dol.gov or miller.tamar@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.