U.S. Department of Labor to offer free workshop in New Jersey on complying with federal pension law

New York – The U.S. Department of Labor’s Employee Benefits Security Administration (EBSA) will hold a free workshop on September 24 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 Plaza 35, 1030 St. George’s Avenue, Suite 205 in Avenel, New Jersey.

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 incur investigative or enforcement actions. EBSA staff will be on hand to provide one-on-one program assistance and guidance on the application process. A guest speaker from the Internal Revenue Service will discuss that agency’s voluntary correction program.

“The department takes seriously its obligation to assist employers and plan officials in understanding their obligations under the law,” 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 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. Register by downloading a form at www.dol.gov/ebsa (see “Compliance Assistance Seminars” – New York Regional Office events) and faxing to Jeffrey Singer at 212.607.8663 or e-mail singer.jeffrey@dol.gov or miller.tamar@dol.gov. For more information on the program and the workshops, contact the New York office at 212.607.8600.

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.