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Chicago, Illinois - Jennifer L. Gillespie,
former owner of the now-defunct Bay Technologies Inc., Green Bay,
Wisconsin, has agreed to accept liability for $24,520.82 owed to the Bay
Technologies 401(k) Profit Sharing Plan, the U.S. Labor Department
announced today.
The agreement settles the department’s civil lawsuit,
filed in federal district court in Green Bay, which alleged that Gillespie
violated the Employee Retirement Income Security Act (ERISA) by failing to
forward all employee 401(k) contributions and loan repayments to the plan
in a timely manner in 2002 and 2003. At the time of the violations,
Gillespie was a trustee of the 401(k) plan.
As part of the agreement, the court ordered Gillespie
removed as a fiduciary to the plan and barred her from serving or acting
as a fiduciary or service provider to any employee benefit plan subject to
ERISA.
“The department will aggressively enforce the law to
protect the retirement funds of the hardworking men and women of this
company,” said Kenneth Bazar, director of the Chicago regional office of
the Employee Benefits Security Administration (EBSA). “Our legal actions
are designed to restore money owed to the plan to pay future benefits to
these workers.”
The case was investigated by EBSA’s Chicago regional
office. Employers and workers can contact the district regional office at
312.353.0900 or EBSA’s toll-free number, 1.866.444.EBSA (3272), for help
with problems relating to private-sector pension and health plans. In
fiscal year 2004, EBSA achieved record monetary results of $3.1 billion
related to the pension, 401(k), health and other benefits of millions of
American workers and their families.
(Chao v.Gillespie)
Civil Action No. 1:04-cv-01129 |
