Printer Friendly Version
Release Date: May 13, 2008
Release Number: 08-590-SAN
Contact Name: Roger Gayman
Phone Number: 415.625.2631
San Francisco – The U.S. Department of
Labor’s Employee Benefits Security Administration (EBSA) will hold two
free workshops June 9 and 19 in Southern California to help employers,
benefit professionals and others comply with federal employee benefits
law.
The June 9 workshop will be held from 8:30 to 10:30
a.m. PDT at the Marriott Courtyard Foothill Ranch Irvine Spectrum, 27492
Portola Parkway in Foothill Ranch.
On June 19, a second workshop will be held in Santa
Clarita from 8:30 to10:30 a.m. PDT at the Small Business Development
Center, Santa Clarita Valley Chamber of Commerce, 28460 Avenue Stanford,
Suite 100.
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 result in
investigative or enforcement action. EBSA staff will be on hand during
the day to provide one-on-one program guidance on the application
process.
“The VFCP is an effective strategy in protecting
the pension benefits of America’s workers,” said Crisanta Johnson,
acting regional director of EBSA’s Los Angeles Regional Office. “We
encourage employers and plan officials to attend the workshops and take
advantage of the assistance we are offering them to bring their plans
into compliance with the law.”
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.
Anyone with concerns about responsibilities
administering pension plans may attend this workshop. To sign up or
obtain additional program information, contact Wendy Morgan at
626.229.1032 or EBSA’s Los Angeles Regional Office at 626.229.1000 or
VFCP-LARO@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 upon request (large print, Braille, audio tape or
disc) from the COAST office. Please specify which news release when
placing your request at 202.693.7828 or TTY 202.693.7755. The U.S.
Department of Labor 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.
|