EBSA says it 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. Anyone with concerns about responsibilities administering pension plans may attend this workshop.
According to a press release, 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 first workshop, scheduled for June 9 , 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. Registration information is available at http://www.dol.gov/ebsa/pdf/VFCPfoothillranch.pdf
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. Registration information is available online at http://www.dol.gov/ebsa/pdf/VFCPsantaclarita.pdf
“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 at http://www.dol.gov/ebsa/compliance_assistance.html#section8
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 .
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