DOL to Host Compliance Seminar for Small Businesses in Buffalo

The Department of Labor’s Employee Benefits Security Administration announced it will hold an upcoming seminar in Buffalo, New York, as part of its “Getting It Right—Know Your Fiduciary Responsibilities” compliance assistance program. 

The seminar will be held on June 28 at Buffalo State University to increase awareness and understanding of basic fiduciary responsibilities when operating a retirement plan. 

For small and medium-sized employers who have limited time, resources and access to professional help with benefit programs, “getting it right” can be challenging, according to the EBSA announcement. 

The following topics will be addressed at the seminar: 

• Understanding your plan and your responsibilities; 
• Carefully selecting and monitoring service providers; 
• Making contributions on time; 
• Avoiding prohibited transactions; 

• Making appropriate disclosures to plan participants; and  
• Filing annual reports to the government on time. 

Registration for the event is on a first-come-first-serve basis, and attendees must register no later than June 26. An agenda for the event can be found here.