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Release Date: August 14, 2007
Release Number: 07-1212-ATL (214)
Contact Name: Dan Fuqua/Michael Wald
Phone Number: 404.562.2078/404.562.2076
Atlanta – Norcom Development Inc. and its
president, Thomas A. Norman, have restored $85,206 owed to the company’s
401(k) profit-sharing plan under a consent order obtained by the U.S.
Department of Labor.
According to the order entered by the U.S. District
Court for the Western District of North Carolina, the defendants
restored $69,115 in employee and employer contributions, plus $16,091
interest on those funds, to the plan.
“The Labor Department is pleased to have
successfully restored the full amount due to employees,” said Howard
Marsh, director of the Atlanta Regional Office of the department’s
Employee Benefits Security Administration (EBSA).
Located in Charlotte, North Carolina, Norcom
Development is a commercial real estate development company. Its 401(k)
plan covered five participants and held approximately $122,600 in assets
as of January 2006, the latest data available.
In fiscal year 2006, EBSA achieved monetary results
of $1.4 billion related to pension, 401(k), health and other benefits
for millions of American workers and their families.
Employers and workers can reach EBSA’s Atlanta
Regional Office at 404.302.3900 or toll-free at 1.866.444.EBSA (3272)
for help with problems relating to private sector retirement and health
plans.
Chao v. Norcom Development Inc.
Civil Action File Number 3:07-cv-90-K
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page. The information in this news release will be made available
in alternate format upon request (large print, Braille, audio tape or
disc) from the COAST office. Please specify which news release when
placing your request at 202.693.7828 or TTY 202.693.7755. The U.S.
Department of Labor is committed to providing America's employers and
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with its laws and regulations. For more information, please visit the
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