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The Employee Retirement Income Security Act of 1974 (ERISA) is
a federal law that sets minimum standards for pension plans in
private industry.
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For example, if your employer maintains a
pension plan, ERISA specifies when you must be allowed to
become a participant, how long you have to work before you
have a non-forfeitable interest in your pension, how long you
can be away from your job before it might affect your
benefits, and whether your spouse has a right to part of your
pension in the event of your death. Most of the provisions of
ERISA are effective for plan years beginning or after January
1, 1975.
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ERISA does not require any employer to establish a pension
plan. It only requires that those who establish plans must
meet certain minimum standards. The law generally does not
specify how much money a participant must be paid as a
benefit.
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EBSA's compliance assistance information will assist employers and employee
benefit plan officials in understanding and complying with the
requirements of ERISA as it applies to the administration of employee
pension and welfare benefit plans.
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HIPAA
Compliance Assistance Program (H-CAP)
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The
HIPAA Compliance Assistance Program is designed to help employers and
health plans fulfill their obligations under health laws including the
Health Insurance Portability and Accountability Act (HIPAA), the Mental
Health Parity Act (MHPA), the Newborns' and Mothers' Health
Protection Act (Newborns' Act), and the Women's Health and Cancer Rights
Act (WHCRA).
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Upcoming
Seminar Locations
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Previous Seminar Locations
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Overland Park, KS
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Chandler, AZ
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Rutland City, VT
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Omaha, NE
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Washington, DC
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Nashville, TN
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Helena, MT
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Indianapolis, IN
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Salt Lake City, UT
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Camp Hill, PA
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Austin, TX
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Durham, NC
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Oklahoma City, OK
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Lansing, MI
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Manchester, NH
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Columbia, SC
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Las Vegas, NV
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Annapolis, MD
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Chicago, IL
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New York, NY
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Louisville, KY
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Anchorage,
AK
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Meeting
Your Fiduciary Responsibilities - To meet their responsibilities as plan sponsors, employers need to
understand some basic rules, specifically the Employee Retirement
Income Security Act (ERISA). ERISA sets standards of conduct for
those who manage an employee benefit plan and its assets (called
fiduciaries). This publication provides an overview of the basic
fiduciary responsibilities applicable to retirement plans under the
law.
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Understanding Retirement Plan Fees And
Expenses - This booklet will help retirement plan sponsors better understand and
evaluate their plan's fees and expenses. While the focus is on
fees and expenses involved with 401(k) plans, many of the principles
discussed in the booklet also will have application to all types of
retirement plans.
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401(k) Plan Fee Disclosure Tool - A form that provides employers with a handy way to make cost-effective decisions and compare the investment fees and administrative costs of competing providers of plan services.
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Selecting
An Auditor For Your Employee Benefit Plan - Federal law requires employee benefit plans with 100 or more
participants to have an audit as part of their obligation to file the
Form 5500. This booklet will assist plan administrators in
selecting an auditor and reviewing the audit work and report.
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Reporting
and Disclosure Guide for Employee Benefit Plans - This guide is intended to be used as a quick reference tool for
certain basic reporting and disclosure requirements under ERISA.
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Statement of Assistant Secretary Ann L. Combs on the Duties of Fiduciaries in Light of Recent Mutual Fund Investigations
- Addresses the obligations of fiduciaries to review mutual fund and pooled investment fund investments with respect to reported and potential late trading and market-timing abuses. Also provides examples of steps to deal with market-timing concerns within plans without losing the protections of section 404(c) of ERISA.
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ERISA
Advisory Opinions - The policies, regulations, opinions,
and interpretation regarding the fiduciary, reporting,
disclosure, and coverage provisions of ERISA.
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ERISA
Procedure 76-1: Filing Requests for Advisory
Opinions/Information Letters -
This ERISA procedure describes the general procedures of the
department in issuing information letters and advisory
opinions under the Act.
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Class Exemptions
- A class exemption is an administrative "blanket"
exemption, which permits a person to engage in a similar
transaction or a series of similar transactions with plan in
accordance with the terms and conditions of the class
exemption, without requiring the person to obtain an
individual exemption.
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EXPRO
Exemptions -
PTE 96-62 currently requires that applicants demonstrate that
their proposed transactions are substantially similar to
transactions in at least two exemptions previously granted by
the department within five years of their submission.
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Individual
Exemptions - An individual exemption is an administrative
exemption, which applies only to the specific person named or
otherwise defined in the exemption, and allows such person to
engage in a variety of transactions that would be otherwise
prohibited.
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Exemption
Procedures Under Federal Pension Law -
This booklet provides information to employers, plan
administrators and employee benefit practitioners about the
basic requirements and procedures needed to apply for
exemptions from the prohibited transaction rules of ERISA.
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Voluntary
Fiduciary Correction Program (VFCP) - A voluntary
compliance program intended to protect the financial security
of workers through the identification and correction of
transactions that violate Part 4 of Title I of ERISA.
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VFCP
Frequently Asked Questions | Class
Exemption FAQs - FAQs that explain the
program that is is designed to encourage employers to
voluntarily comply with the Employee Retirement Income
Security Act by self-correcting certain violations of the law.
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VFCP
Checklist - Use this checklist to ensure that you are
submitting a complete VFCP application.
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VFCP
Sample No Action Letter - A sample letter from EBSA to
applicant upon correction pursuant to the VFCP.
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Strategic
Enforcement Plan (STEP) - Explains the general framework
through which EBSA's enforcement resources may be focused to
achieve the agency's policy and operational objectives.
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The Enforcement
Manual - A manual providing detailed information on
procedures used by the EBSA Office of Enforcement in its
investigative programs.
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Delinquent
Filer Voluntary Compliance Program -
The DFVC encourages voluntary compliance with
ERISAs annual reporting requirements and gives delinquent plan
administrators a way to avoid higher civil penalty assessments
by satisfying the program’s requirements and voluntarily paying a
reduced penalty.
DFVC
Fact Sheet
FAQs FR Final Rule
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Voluntary
Fiduciary Correction Program -
The VFCP encourages voluntary compliance by
self-correcting violations of the
law. The program also
helps plan
officials understand the law and gives
immediate relief from payment of
excise taxes under a class
exemption.
VFCP
Fact Sheet
FAQs
FR Notice
Class Exemption Class
Exemption FAQs
Application Checklist
No Action Letter
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Order
a CD-Rom
with
information about the retirement correction programs of EBSA, the IRS and the
PBGC.
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