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Release Date: July 22, 2008
Release Number: 08-1001-SEA (08-88)
Contact Name: Michael shimizu
Phone Number: 206.553.7620

U.S. Labor Department to sponsor free workshops in Seattle on federal pension and health laws

Seattle – The U.S. Department of Labor’s Employee Benefits Security Administration (EBSA) will hold free, half-day workshops July 29 in Seattle to help employers, the employee benefit community and others better comply with the federal pension law.

The workshops will be held at 9:30 a.m. and 1:30 p.m. PDT in the Henry Jackson Federal Building, 915 Second Avenue in the Evergreen Room.

The workshops will offer comprehensive information and individual help on the department’s Voluntary Fiduciary Correction Program (VFCP), which provides an opportunity to identify and self-correct plan activities that might otherwise result in investigative or enforcement action. EBSA staff will be on hand before and after each workshop 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, regional 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.

Pre-registration for this workshop is recommended, as space is limited. Additional information regarding the VFCP and a workshop registration form (click “Compliance Assistance Seminars”) are available on EBSA’s Web page at www.dol.gov/ebsa.

Alternatively, interested individuals may register with and ask questions of David Matheney at 415.625.2475. Questions may also be addressed to EBSA’s San Francisco Regional Office main number at 415.625.2481 or via e-mail 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.