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Release Date: April 6, 2009
Release Number: 09-337-NEW
Contact Name: Gloria Della
Phone Number: 202.693.8664
New York City – The U.S. Department of Labor’s
Employee Benefits Security Administration (EBSA) will hold a free
workshop on April 28 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 33 Whitehall Street, 11th Floor in
Manhattan.
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 actions. EBSA staff will be on hand to provide one-on-one
program assistance and guidance on the application process.
“The VFCP is a vital tool to protect the pension
benefits of America’s workers,” 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 the 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. The registration form can be downloaded at www.dol.gov/ebsa
and faxed to EBSA. Look for New York City events under “Compliance
Assistance Seminars.” For more information on the program and the
workshops, contact EBSA’s New York Regional Office at 212.607.8600. To
register, contact Jeffrey Singer at 212.607.8663 or e-mail EBSA at
singer.jeffrey@dol.gov or miller.tamar@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.
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