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Release Date: March 27, 2008
Release Number: 08-324-SAN (SF-35)
Contact Name: Roger Gayman
Phone Number: 415.625.2631
San Francisco – The U.S. Department of Labor’s
Employee Benefits and Security Administration (EBSA) will hold free,
half-day workshops in San Francisco on April 21, at 9:30 a.m. and again
at 1:30 p.m. PDT, to help employers, the employee benefit community and
others better comply with federal pension law. The workshops will be
held at the San Francisco Federal Building, 90-7th Street,
Auditorium-Room B-020.
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 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. 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 San Francisco events under
“Compliance Assistance Seminars.” For more information on the
program and the workshops, contact EBSA’s San Francisco Regional
Office at 415.625.2481. To register, contact David Matheney at
415.625.2475 or e-mail EBSA 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 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.
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