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Release Date: 10/26/1999
Release Number:
V-21
Contact Name: Rita Ford
Phone Number: 202.219.892 |
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The owners of Team Tooling, Inc. in Fond du Lac,
Wis., were ordered to make restitution to the plan for failure to remit
voluntary employee contributions to the company’s retirement plan and were
permanently barred from serving in positions of trust to any plan governed by
federal pension law, as part of a consent order and judgment obtained by the
U.S. Department of Labor. |
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Under the judgment, David E. Thibault and Madeline
Thibault must restore $6,261.67 to the individual accounts of the other plan
participants. The defendants also must notify affected participants of their
entitlement to these additional distributions and the available options for
distributing the retirement assets. |
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The lawsuit, filed simultaneously with the
judgment, alleged that from June 1 to Sept. 16, 1996, the defendants withheld
voluntary employee salary contributions from employee paychecks but failed to
deposit the money in the individual accounts of participants, retaining the
employee contributions in the general assets of the company in violation of the
Employee Retirement Income Security Act (ERISA). |
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The lawsuit and judgment, filed in the federal
district court in Milwaukee, Wis., on Oct. 22, resulted from an investigation
conducted by the Chicago Regional Office of the department’s Pension and
Welfare Benefits Administration into violations of ERISA. The Chicago office
covers pension, health and other welfare plans located in Illinois, Indiana and
Wisconsin. |
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“Our goal is to assure that consumers know
that the department is only a phone call away to help protect the benefits
promised by employers,” said Ken Bazar, director of PWBA’s Chicago
Regional Office. “Employers and workers can reach us at 312-353-0900 for
help with any problems relating to private-sector pension and health
plans.” |
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Herman v. Thibault
Civil Action No.
99-C-1242 |
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U.S. Department of
Labor news releases are accessible on the Internet. The information in this
news release will be made available in alternate format upon request (large
print, Braille, audio tape or disc) from the Central Office for Assistive
Services and Technology. Please specify which news release when placing your
request. Call 202.693.7773 or TTY 202.693.7775. |
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