HR Management & Compliance

News Notes: PWBA Releases FAQs About Voluntary Fiduciary Correction Program

We earlier reported on a new program that makes it easier for employers and benefit plan officials to voluntarily correct certain employee benefit plan violations and avoid enforcement actions and penalties. Now, the Department of Labor’s Pension and Welfare Benefits Administration has released guidance with FAQs about the VFCP program and useful hypothetical examples. The new guidance can be obtained online or by contacting the PWBA at (415) 975-4600 (Northern California) or (626) 229-1000 (Southern California).