EBSA Plans Fiduciary Responsibilities Seminar in Los Angeles

The Department of Labor’s Employee Benefits Security Administration will be hosting an additional retirement plan compliance assistance seminar in Los Angeles on August 29 as part of the “Getting it Right —Know Your Fiduciary Responsibilities” series, the agency announced Monday.

The Los Angeles event joins others in Fort Wayne, Indiana on August 22 and Omaha, Nebraska on September 28, announced earlier this month.

Attendance at the event is free. Registration on a first come first served basis.

The registration deadline for the L.A. seminar  is August 25, EBSA announced.

The seminar will feature several sessions focused on fiduciary compliance, according to the agenda posted online. 

EBSA’s fiduciary responsibilities series combines free seminars around the U.S, educational materials, and a dedicated page on EBSA’s website describing the Fiduciary Education Campaign opened to support plan sponsor fiduciaries in covering their responsibilities.

Plan sponsor fiduciaries and retirement partners to plans with related fiduciary responsibilities must know their fiduciary duties to get these right, EBSA states.

“Getting it right, however, can be challenging,” EBSA wrote in a press release. “This is especially true for small- and medium-sized employers who have limited time, resources, and access to professional help with benefit programs.”

EBSA will be covering key responsibilities, including:

• Understanding your plan and your responsibilities;
• Carefully selecting and monitoring service providers;
• Making contributions on time;
• Avoiding prohibited transactions; and
• Making appropriate disclosures to plan participants and filing annual reports to the government on time.

The Los Angeles seminar will be held at the USC Hotel Grand Ballroom.