Per the notice below, the United States Department of Labor (USDOL) is offering two Employee Retirement Income Security Act (ERISA) compliance programs for employers that help employers self-correct any problems.

The U.S. Department of Labor announced several programs designed to help employers, unions, and pension plans voluntarily assess and improve their compliance with federal labor laws.

“Self-audits are one of the most effective ways to build a culture of compliance and trust,” said Deputy Secretary of Labor Keith Sonderling.  “These programs are designed to give employers, unions, and benefit plan officials the tools they need to correct potential violations proactively.  By empowering the regulated community with clarity and collaboration, we are continuing to fulfill the Department of Labor’s mission to put both workers and employers first.”

Employee Benefits Security Administration (EBSA) offers two key self-correction programs for fiduciaries and benefits plan administrators: 1) the Voluntary Fiduciary Correction Program, which encourages employers and plan officials to voluntarily correct violations of the Employee Retirement Income Security Act; and 2) the Delinquent Filer Voluntary Compliance Program, which encourages voluntary compliance with ERISA’s annual reporting requirements and offers incentives to late filers, including paying lower penalties.  For additional assistance, contact EBSA at 1-866-444-3272 or visit our website at: dol.gov/ebsa.