News Release

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Release Date: September 3, 2008
Release Number: 08-1172-ATL (199)
Contact Name: Michael Wald
Phone Number: 404.562.2075

U.S. Department of Labor offering free fiduciary workshop on ERISA and HIPAA rules for small businesses at University of Memphis

Atlanta – The U.S. Department of Labor’s Employment Benefits Security Administration (EBSA) will provide a free workshop on Thursday, September 25, in Memphis, Tennessee, to help small businesses, employers, employee benefit professionals and others understand their fiduciary responsibilities under the Employee Retirement Income Security Act (ERISA).

The workshop will take place from 8:30 a.m. to 4:30 p.m. EDT at the University of Memphis FedEx Institute Of Technology at 365 Innovation Drive. The day-long seminar will focus on issues facing small and medium sized employers that may have limited time, resources and access to professional assistance.

Topics include the EBSA’s Voluntary Fiduciary Correction Program (VFCP), an introduction to fiduciary responsibilities under ERISA, and an overview of the Health Insurance Portability & Accountability Act (HIPAA).

The VFCP offers an opportunity for fiduciaries to make changes to 19 eligible ERISA transactions. Information will be presented on eligibility for relief of Internal Revenue Service excise taxes and how a fiduciary may contribute funds to its ERISA-covered plan that would otherwise be owed in excise tax.

Participants seeking more information or to register for the workshop should e-mail or telephone Jennifer Donald (Donald.Jennifer@dol.gov and 404.302.3911) or Anedra Williams (Williams.Anedra@dol.gov and 404.302.3960). They may also fax requests to 404.302.3977. Attendance is limited and registrations should be received by September19. Late registrations will be accepted based on availability.

Employers with problems who are not yet subjects of EBSA investigations may be eligible to participate in the VFCP. Participation requires employers to make workers whole but allows them to avoid EBSA enforcement actions and civil penalties as well as any applicable excise taxes. For more information, visit www.dol.gov/ebsa.

Employers and workers can reach EBSA’s Atlanta Regional Office at 404.302.3900 or toll-free at 866.444.3272 for help with problems relating to private sector retirement and health plans. In fiscal year 2007, EBSA achieved monetary results of $1.5 billion related to pension, 401(k), health and other benefits for millions of American workers and their families.

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.