U.S. Labor Department to sponsor free workshops in Salt Lake City on April 14 on complying with federal pension law

Salt Lake City – The U.S. Department of Labor’s Employee Benefits and Security Administration (EBSA) will hold free, half-day workshops in Salt Lake City on April 14 to help employers, the employee benefit community and others better understand and comply with federal pension law. The workshops will be held at the Wallace F. Bennett Federal Building, 125 South State St., Room 2404 at 10 a.m. and 2 p.m. (MDT).

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 action. 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 EBSA’s regional office in San Francisco. “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. Registration forms for the event can be downloaded at www.dol.gov/ebsa and faxed to EBSA. Look for Salt Lake City events under “Compliance Workshops, Seminars and Webcasts.” Alternatively, interested individuals may contact Audrey W. Chan at 415.625.2445 or e-mail EBSA at VFCP-SFRO@dol.gov. For more information on the program and the workshops, they should contact EBSA’s San Francisco Regional Office at 415.625.2481.

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.