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Small Business Seminar Series (0831)U.S. Department of Labor, AICPA and CalCPA WASHINGTON, D.C., August 31, 2005 —The U.S. Department of Labor’s Employee Benefit Security Administration (EBSA) and the American Institute of Certified Public Accountants (AICPA) are launching local seminars to educate small business clients – particularly women business owners – on setting up and administering pension, health and other benefit plans. Regional offices of EBSA, state CPA societies and the AICPA will host the seminars, with the first seminar in Los Angeles Oct. 20, 2005. “Small businesses are the fastest growing sector of the economy, with approximately 5.7 million firms in existence last year,” said Ann L. Combs, EBSA’s Assistant Secretary. “Our partnership with the accounting profession will help us educate small employers on starting and managing retirement programs.” “As trusted business advisers, CPAs have a keen understanding of business owners’ needs, including those related to employee benefit plans,” said Ian MacKay, Director – AICPA Employee Benefit Plan Audit Quality Center. “However, because less than 50 percent of companies have pension plans for their employees, there clearly is a need to educate the other half of business owners about benefit plans and how they can help their employees save for retirement.” The Los Angeles seminar will be hosted by EBSA’s Los Angeles Regional Office and the California Society of Certified Public Accountants (CalCPA). The program will include training on how to set up a benefit plan for employees. Additional seminars will be announced shortly. CPAs and their clients may register for the Los Angeles seminar online at www.dol.gov/ebsa/ This seminar series builds upon an established program called “Getting It Right – Know Your Fiduciary Responsibilities,” another series of joint U.S. Department of Labor and AICPA seminars that educates employers and benefit plan administrators about their fiduciary responsibility with respect to their benefit plans. For further information about the AICPA Employee Benefit Plan Audit Quality Center, visit www.aicpa.org/ebpaqc. In addition, the AICPA offers a series of tools and guidance for business owners as part of its national 360 Degrees of Financial Literacy program. These may be found at www.360financialliteracy.org. Click on “Financial Topics.” Women business owners may find specific tools and resources at www.360financialliteracy.org/women. The American Institute of Certified Public Accountants (www.aicpa.org) is the national, professional association of CPAs, with approximately 350,000 members, including CPAs in business and industry, public practice, government, and education, student affiliates; and international associates. It sets standards for the profession and U.S. auditing standards of private companies; federal, state and local governments; and non-profit organizations. It also develops and grades the Uniform CPA Examination. The campaign includes educational materials on topics such as “Choosing a Retirement Solution for Your Small Business.” These materials and more are featured on a dedicated Web page for retirement plan education. The publications and information on the upcoming seminars is available electronically at www.dol.gov/ebsa or by calling toll-free 1-866-444-EBSA (3272). Other free publications concerning federal employee benefits law also are available on EBSA’s Web site or by calling the toll-free number.
Department of Labor
California Society of Certified Public Accountants
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