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Release Date: 05/16/2003
Release Number: EBSA 03-76
Contact Name: Sharon Morrissey
Phone Number: 202.693.8664
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Tulsa, Oklahoma - The U.S. Department of Labor
obtained consent judgments and orders on May 9, 2003, in which the
trustees of the P&C Engineering Consultants 401(k) plan of Tulsa,
Oklahoma agreed to the offset of their pension accounts to reimburse the
plan for employee contributions that were retained in the company’s
general account. |
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The judgments bar trustees Clarence W. Dill and Connie
Sanders, who also were corporate officers, for five years from acting in
any capacity to employee benefit plans governed by the Employee Retirement
Income Security Act. They also agreed to allow their participant interests
in the plan assets to be applied toward the $55,000 in losses the
department alleges are due to the plan. The court actions were entered in
federal district court in Tulsa. |
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The department also filed an order to prevent the
defendant Dill from discharging any debt owed to the plan in U.S.
Bankruptcy Court in the Northern District of Oklahoma in order to protect
the benefits of participants and beneficiaries. |
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P&C Engineering Consultants, also known as PatClar
Enterprises, was a subchapter S Corporation engaged in the business of
aeronautical engineering support services. It is no longer in business
since filing for Chapter 7 bankruptcy on July 31, 2002. The plan had 27
participants and assets of $48,088.38 as of September 16, 2002. |
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“We took this legal step to get back monies owed the
plan as a part of our ongoing effort to protect the hard-earned benefits
of American workers," said Steve Eischen, director of the department’s
Dallas regional office of the Employee Benefits Security Administration,
which investigated the case. |
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Employers and workers can contact the EBSA Dallas
regional office at 214.683.6831 or EBSA’s toll free number,
1.866.444.EBSA (3272), for help with any problems relating to
private-sector pension and health plans. |
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(Chao v. Dill)
Civil Action No. 03-CV-312PJ |
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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 202.693.7755. |
