4/20/2006: EBSA Fact Sheet: Voluntary Fiduciary Correction Program (Employee Benefits Security Administration [EBSA], U.S. Department of Labor [DOL])

Excerpt: On April 19, 2006, the Department of Labor published in the Federal Register a 2006 Update of the Voluntary Fiduciary Correction Program (VFCP), which simplified and expanded the original VFCP published in 2002. The VFCP is designed to encourage employers to voluntarily comply with the Employee Retirement Income Security Act (ERISA) by self-correcting certain violations of the law.