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| Simplified and Expanded EBSA Voluntary Fiduciary Correction Program McDermott Will & Emery  June 15, 2005 Excerpt: The Employee Benefits Security Administration (ESBA) recently proposed changes to the Voluntary Fiduciary Correction (VFC) Program. Although the changes are not yet final, plan fiduciaries can use the revised and expanded VFC program immediately. The VFC program provides relief from ESBA enforcement actions and certain penalties for employers, plans and plan fiduciaries for specific fiduciary breaches under the Employee Retirement Income Security Act of 1974 (ERISA). |
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