All news releases from the EBSA http://www.dol.gov/ebsa/newsroom/main.html The U.S. Department of Labor's Employee Benefits Security Administration today issued Technical Release 2011-03R, which revises the department's interim policy regarding the use of electronic media to satisfy the disclosure requirements under the department's final participant-level fee disclosure regulation. http://www.dol.gov/ebsa/newsroom/2011/ebsa120811.html http://www.dol.gov/ebsa/newsroom/2011/ebsa120811.html Merrill Lynch, Pierce, Fenner and Smith Inc. has settled allegations made by the U.S. Department of Labor that the company and one of its employees violated the Employee Retirement Income Security Act by failing to prevent the fiduciaries of pension plans of two Alabama-based companies from engaging in prohibited transactions. The out-of-court settlement requires Merrill Lynch to restore a total of $170,854 to the plans and provide additional training to its investment advisers serving as fiduciaries of employee benefit plans. http://www.dol.gov/ebsa/newsroom/2011/11-1673-ATL.html http://www.dol.gov/ebsa/newsroom/2011/11-1673-ATL.html The Department of Labor filed a civil complaint and a consent order and judgment in which the parties agreed that Gary Goble and Stephens' Drugs Inc. are jointly and severally liable to the retirement plan for $19,762.62, representing unremitted employee contributions and lost opportunity costs owed to the retirement plan. http://www.dol.gov/ebsa/newsroom/newsbriefs/11-570-ATL.html http://www.dol.gov/ebsa/newsroom/newsbriefs/11-570-ATL.html A federal court has removed Amtren Corp. and former president Charles Kirk Lamberth as fiduciaries from the Amtren Corp. Profit Sharing Plan and ordered them to restore $114,255 to the defunct company’s pension plan after an investigation by the U.S. Department of Labor’s Employee Benefits Security Administration found evidence of an improper loan that violated provisions of the Employee Retirement Income Security Act. http://www.dol.gov/ebsa/newsroom/2011/11-1669-ATL.html http://www.dol.gov/ebsa/newsroom/2011/11-1669-ATL.html On November 15, 2010, the United States Department of Labor filed a Complaint against Franklin-based Truck It, Inc. and Steven R. Ligon for failure to pay employee contributions totaling $22,222.61 to the company’s employee benefit plan. http://www.dol.gov/ebsa/newsroom/newsbriefs/11-566-ATL.html http://www.dol.gov/ebsa/newsroom/newsbriefs/11-566-ATL.html The U.S. Department of Labor's Employee Benefits Security Administration today announced two new proposed rules under the Affordable Care Act to protect businesses and workers whose health benefits are provided through a Multiple Employer Welfare Arrangement (MEWA). MEWAs have frequently been used by scam artists and criminals to defraud consumers, resulting in an inability to pay medical claims. When such MEWAs become insolvent, they may leave consumers with substantial unpaid medical bills. And, the impact on employers or employee organizations that have paid premiums or made contributions to the MEWA, and thought they were doing the right thing for their workers and their families, can be as significant. http://www.dol.gov/ebsa/newsroom/2011/11-1677-NAT.html http://www.dol.gov/ebsa/newsroom/2011/11-1677-NAT.html The U.S. Bankruptcy Court for the District of Maryland has approved a global settlement that allows the U.S. Department of Labor to recover $7,968,744 in back wages, fringe benefits and 401(k) plan assets for more than 2,000 security guards formerly employed by USProtect Corp., a defunct Silver Spring company that provided security services for federal buildings across the country. The decision resolves the Labor Department's actions against the company related to violations of the McNamara O'Hara Service Contract Act and the Employee Retirement Income Security Act. http://www.dol.gov/opa/media/press/whd/WHD20111678.htm http://www.dol.gov/opa/media/press/whd/WHD20111678.htm Michael Kaplan shall immediately assume responsibility for and collect, liquidate and manage the assets of the Family Care Management 401(k) and Profit Sharing Plan and distribute those assets to eligible plan beneficiaries. Following distribution, he shall terminate the plan. http://www.dol.gov/ebsa/newsroom/newsbriefs/11-27-CHI.html http://www.dol.gov/ebsa/newsroom/newsbriefs/11-27-CHI.html The U.S. Department of Labor has sued Weehawken-based Worldwide Trade Resources Inc. for failing to administer and terminate the defunct company's 401(k) plan, in violation of the Employee Retirement Income Security Act. As of Jan. 31, the plan had 52 participants and assets totaling $2.2 million, the latest data available. http://www.dol.gov/ebsa/newsroom/2011/11-1634-NEW.html http://www.dol.gov/ebsa/newsroom/2011/11-1634-NEW.html The court ordered the defendants to restore $21,853.91 to the plan, and permanently enjoined and restrained Frank Mitacek III and Susan Mitacek from violating ERISA and from serving as fiduciaries or service providers to any ERISA-covered plan. The court also ordered the defendants pay a penalty in the amount of twenty percent of the applicable recovery amount. http://www.dol.gov/ebsa/newsroom/newsbriefs/11-272-SAN.html http://www.dol.gov/ebsa/newsroom/newsbriefs/11-272-SAN.html The U.S. Department of Labor's Employee Benefits Security Administration has created a new consumer assistance Web page that provides easy access to useful information, and allows users to submit questions and complaints about health and retirement plans electronically. http://www.dol.gov/ebsa/newsroom/2011/11-1627-NAT.html http://www.dol.gov/ebsa/newsroom/2011/11-1627-NAT.html During the period May 18, 2007, through June 19, 2009, Westside Cabinet and Millwork withheld from employees' pay pre-tax contributions to the SIMPLE IRA Plan and failed to remit the amounts to the plan's accounts. Defendant Metzler caused the company to retain the salary reduction contributions and failed to ensure the amounts withheld were deposited in plan accounts. http://www.dol.gov/ebsa/newsroom/newsbriefs/11-26-CHI.html http://www.dol.gov/ebsa/newsroom/newsbriefs/11-26-CHI.html Phyllis C. Borzi, assistant secretary of the U.S. Department of Labor's Employee Benefits Security Administration, today announced five appointments to Senior Executive Service positions within the agency. "The past year has been one of great accomplishment and great loss for our agency as many senior level staff retired, taking with them decades of experience and institutional history," said Borzi. "However, we have so many accomplished people who are more than capable of carrying on the tradition of excellence that has characterized EBSA throughout its history, and it is with great pleasure that today I can announce that they are stepping up and giving us the benefit of their talents and leadership." http://www.dol.gov/ebsa/newsroom/2011/ebsa110711.html http://www.dol.gov/ebsa/newsroom/2011/ebsa110711.html Two former corporate officers of an East Los Angeles community hospital have been ordered to repay $600,692 plus post-judgment interest to the ElaStar Community Hospital Retirement Savings Plan, according to the terms of a consent judgment and order filed in the U.S. District Court for the Central District of California’s Southern Division. http://www.dol.gov/ebsa/newsroom/2011/11-1557-SAN.html http://www.dol.gov/ebsa/newsroom/2011/11-1557-SAN.html The court order Kvidera to repay $10,740 to those non-fiduciary plan participants who were employees of Procedo, Inc., who were plan participants during the period from March 30, 2007, through Jan. 14, 2010, and had voluntary employee salary contributions and/or employee loan repayments withheld from their pay for contribution to the plan during this period where contributions were never remitted or were untimely remitted to the plan. http://WWW.dol.gov/ebsa/newsroom/newsbriefs/11-24-CHI.html http://WWW.dol.gov/ebsa/newsroom/newsbriefs/11-24-CHI.html The Department of Labor filed a complaint seeking injunctive relief permanently enjoining James T. Ledford and Davis Equipment Sales and Service, Inc. from violating any provisions of Title I of ERISA; barring Ledford from serving as a fiduciary or service provider to any ERISA plans; the payment of the delinquent employee contributions plus all interest owed to the plan for the unremitted and untimely employee contributions; and the offsetting of Ledford’s individual plan account to cover any losses resulting from his fiduciary breaches if he does not otherwise restore the losses to the plan. http://www.dol.gov/ebsa/newsroom/newsbriefs/11-23-CHI.html http://www.dol.gov/ebsa/newsroom/newsbriefs/11-23-CHI.html The U.S. Department of Labor's Employee Benefits Security Administration is announcing the publication of a final rule updating the procedures for filing and processing applications for prohibited transaction exemptions under the Employee Retirement Income Security Act. The final rule, which revises decades-old procedures, was published in the October 27, 2011, edition of the Federal Register. Please visit http://s.dol.gov/JH to view the final rule. http://www.dol.gov/ebsa/newsroom/2011/ebsa102811.html http://www.dol.gov/ebsa/newsroom/2011/ebsa102811.html The U.S. Department of Labor's Employee Benefits Security Administration has released a Securities and Exchange Commission staff no-action letter relating to EBSA's participant-level fee disclosure regulation and Rule 482 under the Securities Act of 1933. The letter states that information required by and that complies with the fee disclosure regulation that is provided by a plan administrator, or designee, to plan participants or beneficiaries will be treated as a communication that satisfies the requirements of Rule 482. http://www.dol.gov/opa/media/press/ebsa/EBSA20111573.htm http://www.dol.gov/opa/media/press/ebsa/EBSA20111573.htm The U.S. Department of Labor's Employee Benefits Security Administration today issued a final regulation that will enhance retirement security by improving workers' access to quality fiduciary investment advice. The regulation implements a prohibited transaction exemption under an amendment to the Employee Retirement Income Security Act and the Internal Revenue Code that is part of the Pension Protection Act of 2006. http://www.dol.gov/ebsa/newsroom/2011/11-1537-NAT.html http://www.dol.gov/ebsa/newsroom/2011/11-1537-NAT.html The court ordered the defendants permanently enjoined and restrained from violating Title I of ERISA. Dr. Rickey Gene Love was also permanently enjoined from acting as a fiduciary, trustee, agent or representatives in any capacity to any employee benefit plan as defined by ERISA and was ordered to allow his interest in the plan to be redistributed to other participants in the plan. The court also appointed a successor fiduciary for the plan at the cost to the defendants. http://www.dol.gov/ebsa/newsroom/newsbriefs/11-501-ATL.html http://www.dol.gov/ebsa/newsroom/newsbriefs/11-501-ATL.html The U.S. Department of Labor's Advisory Council on Employee Welfare and Pension Benefit Plans, also known as the ERISA Advisory Council, will hold a public meeting on Nov. 8 and 9 at Labor Department headquarters, 200 Constitution Ave. NW, Washington, D.C. 20210. http://www.dol.gov/ebsa/newsroom/2011/11-1536-NAT.html http://www.dol.gov/ebsa/newsroom/2011/11-1536-NAT.html The U.S. Department of Labor has obtained a default judgment against the fiduciary of the Northland Inn 401(k) plan, Parkland Hotel Investors LP, requiring the appointment of an independent fiduciary to terminate the plan and distribute its assets. http://www.dol.gov/ebsa/newsroom/2011/11-1511-CHI.html http://www.dol.gov/ebsa/newsroom/2011/11-1511-CHI.html The U.S. Department of Labor's Employee Benefits Security Administration and the Tennessee Department of Commerce and Insurance will co-host a free health law compliance assistance seminar from 8:30 a.m. to 5 p.m. CDT on Tuesday, Oct. 25, and Wednesday, Oct. 26. The event will be held at the Scarritt–Bennett Center, located at 1008 S. 19th Ave., Nashville, Tenn. 37212. http://www.dol.gov/ebsa/newsroom/2011/11-1522-ATL.html http://www.dol.gov/ebsa/newsroom/2011/11-1522-ATL.html The U.S. Department of Labor has sued B and K Builders Inc. of Marshfield and its co-owners, Robert Aschenbrenner and Kenneth Staab, to restore $17,835.41 plus interest to the company's 401(k) profit-sharing plan. Additionally, the suit seeks restitution of $97,307.79 from B and K Builders Inc. and Staab as fiduciaries to the B and K Builders Inc. Prevailing Wage Plan. The case is the result of an investigation by the department's Employee Benefits Security Administration into alleged violations of the Employee Retirement Income Security Act. http://www.dol.gov/ebsa/newsroom/2011/11-383-CHI.html http://www.dol.gov/ebsa/newsroom/2011/11-383-CHI.html The court ordered the Jendusas to repay the participant contributions to those plan participants, who were employees of Jendusa Engineering Associates, Inc. and had voluntary participant contributions withheld from their pay for contribution to the plan from Jan. 1, 2007 through Feb. 15, 2008. The Jendusas, in their capacity as fiduciaries to the Jendusa Engineering Associates, Inc. 401(k) Plan, failed to ensure that $10,441.53 in participant contributions for the period of Jan. 1, 2007, through Feb. 15, 2008, were forwarded to the plan. http://www.dol.gov/ebsa/newsroom/newsbriefs/11-22-CHI.html http://www.dol.gov/ebsa/newsroom/newsbriefs/11-22-CHI.html Neutron Products Inc. President Jackson A. Ransohoff and Treasurer James W. Jordan will restore $100,000 to the company's employee savings plan, according to the terms of a consent judgment that resolves a U.S. Department of Labor lawsuit. http://www.dol.gov/ebsa/newsroom/2011/11-1465-PHI.html http://www.dol.gov/ebsa/newsroom/2011/11-1465-PHI.html The U.S. Department of Labor's Employee Benefits Security Administration has issued questions and answers to help trustees of multiemployer benefit plans better understand how to avoid prohibited transactions in common leasing arrangements. A multiemployer plan is an employee benefit plan maintained pursuant to a collective bargaining agreement between more than one employer, usually within the same or related industries, and a labor union. http://www.dol.gov/ebsa/newsroom/2011/EBSA101311.html http://www.dol.gov/ebsa/newsroom/2011/EBSA101311.html The U.S. Department of Labor has filed a lawsuit against Sterling Printing and its president, John Louis Roberts, as well as Mara Scanlon Roberts, chief executive officer of M.R. Graphics LLC, for violating the Employee Retirement Income Security Act by failing to remit worker contributions to a 401(k) plan serving the employees of both Pittsburgh companies. http://www.dol.gov/ebsa/newsroom/2011/11-1262-PHI.html http://www.dol.gov/ebsa/newsroom/2011/11-1262-PHI.html On Feb. 3, 2011, the Labor Department filed a complaint in the U.S. District Court for the Eastern District of Virginia seeking the appointment of an independent fiduciary for purposes of terminating the plan and distributing its remaining assets. http://www.dol.gov/ebsa/newsroom/newsbriefs/11-138-PHI.html http://www.dol.gov/ebsa/newsroom/newsbriefs/11-138-PHI.html The U.S. Department of Labor has filed a complaint in federal court seeking to restore $436,322.07 to two benefit plans of Columbus based Clark Graphics. Based on the findings of an investigation by the departments Employee Benefits Security Administration, the lawsuit alleges that the plans administrator, Pension Retirement Planning, along with its president, Marcia Dowdell, failed to account for money deposited to the plans in violation of the Employee Retirement Income Security Act. http://www.dol.gov/ebsa/newsroom/2011/11-1440-CHI.html http://www.dol.gov/ebsa/newsroom/2011/11-1440-CHI.html The U.S. Department of Labor filed a complaint asking the court to order Glen Zucker to restore all losses to the plan, including lost opportunity costs, resulting from his fiduciary breaches, to administer the termination of the plan, and to permanently bar him from serving as a fiduciary or service provider to any ERISA-covered employee benefit plan following the plan termination. http://www.dol.gov/ebsa/newsroom/newsbriefs/11-21-CHI.html http://www.dol.gov/ebsa/newsroom/newsbriefs/11-21-CHI.html The U.S. Department of Labor's Employee Benefits Security Administration has announced that Joseph Wong, owner and president of the Pasadena, Calif.-based Amadeus Salon Inc., a chain of health and beauty spas, has been sentenced in U.S. District Court for the Central District of California to two years probation for embezzling nearly $90,000 from the salon's 401k profit sharing plan. The terms of Wongs probation include three months confinement at a community corrections center and six months in a home detention program. http://www.dol.gov/ebsa/newsroom/2011/EBSA100611.html http://www.dol.gov/ebsa/newsroom/2011/EBSA100611.html The U.S. Department of Labor has filed a complaint in federal court against Elmhurst-based A.B.D. Tank and Pump Co. and Keith Davis, its president and sole owner, to restore more than $1.9 million to the company's retirement plan. The complaint alleges that Davis depleted the assets of the plan through a series of withdrawals and transfers to himself and the company from Dec. 4, 2006, through Nov. 3, 2010, in violation of the Employee Retirement Income Security Act. http://www.dol.gov/ebsa/newsroom/2011/11-1391-CHI.html http://www.dol.gov/ebsa/newsroom/2011/11-1391-CHI.html The U.S. Department of Labor has filed a lawsuit against now defunct J.M. Singley and Associates Inc. of Media and the trustees of the company's 401k plan, J. Brant Singley and Bradly Weiss, for violations of the Employee Retirement Income Security Act. http://www.dol.gov/ebsa/newsroom/2011/11-1377-PHI.html http://www.dol.gov/ebsa/newsroom/2011/11-1377-PHI.html The U.S. Department of Labor filed a lawsuit seeking the repayment of all plan losses, including lost interest, caused by the fiduciary breaches committed and also seeks to remove both defendants from their positions as fiduciaries to the plan, and enjoin Caro from serving as a fiduciary to any ERISA plan in the future. The lawsuit also seeks the appointment of an independent fiduciary to distribute assets and terminate the plan, and an order that the defendants pay all fees and expenses incurred by the independent fiduciary. http://www.dol.gov/ebsa/newsroom/newsbriefs/11-20-CHI.html http://www.dol.gov/ebsa/newsroom/newsbriefs/11-20-CHI.html The U.S. District Court for the Western District of Pennsylvania has approved a consent judgment and order to restore $67,138 in plan assets and interest to the employee 401(k) plan of Liberty-Pittsburgh Systems Inc. The action resolves a lawsuit filed by the U.S. Department of Labor against the company and its chief executive officer, Kevin T. Weir. http://www.dol.gov/ebsa/newsroom/2011/11-1383-PHI.html http://www.dol.gov/ebsa/newsroom/2011/11-1383-PHI.html On Thursday, Sept. 22 from 1:00 p.m. to 2:00 p.m. EDT, the EBSA will host a webcast on saving for college students and those who are new to the workforce. http://www.dol.gov/ebsa/newsroom/2011/ebsa092111.html http://www.dol.gov/ebsa/newsroom/2011/ebsa092111.html The U.S. Department of Labor's EBSA will re-propose its rule on the definition of a fiduciary. Consistent with the president's January executive order on regulation, the re-proposal is designed to inform judgments, ensure an open exchange of views and protect consumers while avoiding unjustified costs and burdens. When finalized, this important consumer protection initiative will safeguard workers who are saving for retirement as well as the businesses that provide retirement plans to America's working men and women. The decision to re-propose is in part a response to requests from the public, including members of Congress, that the agency allow an opportunity for more input on the rule. http://www.dol.gov/ebsa/newsroom/2011/11-1382-NAT.html http://www.dol.gov/ebsa/newsroom/2011/11-1382-NAT.html Secretary of Labor Hilda L. Solis today announced the appointment of Mary Ellen Signorille to the Advisory Council on Employee Welfare and Pension Benefit Plans, also known as the ERISA Advisory Council. Signorille was appointed as a representative of the general public and will serve the unexpired portion of the term of Portia Wu, who recently resigned from the council to accept a senior position within the Obama administration. http://www.dol.gov/ebsa/newsroom/2011/11-1349-NAT.html http://www.dol.gov/ebsa/newsroom/2011/11-1349-NAT.html The U.S. Department of Labor's EBSA today issued Technical Release 2011-03 which sets forth an interim policy regarding the use of electronic media to satisfy disclosure requirements under the department's final participant-level fee disclosure regulation. http://www.dol.gov/ebsa/newsroom/2011/ebsa091311.html http://www.dol.gov/ebsa/newsroom/2011/ebsa091311.html The U.S. Department of Labor filed a lawsuit seeking repayment of employee contributions. Defendant Odell Jones, III was the president and sole owner of the Jomar Building Company and a fiduciary and party in interest to the 401(k) Plan and Benefit Plan. Defendant Cecily Hoagland was the vice-president of the company, the spouse of Jones and a fiduciary and party in interest to the 401(k) Plan. http://www.dol.gov/ebsa/newsroom/newsbriefs/11-19-CHI.html http://www.dol.gov/ebsa/newsroom/newsbriefs/11-19-CHI.html The U.S. Department of Labor's Advisory Council on Employee Welfare and Pension Benefit Plans, also known as the ERISA Advisory Council, will convene a meeting by teleconference on Sept. 28 from 10 a.m.-4 p.m. EDT. http://www.dol.gov/ebsa/newsroom/2011/11-1317-NAT.html http://www.dol.gov/ebsa/newsroom/2011/11-1317-NAT.html The U.S. Department of Labor's EBSA will host a webcast on Tuesday, September 13 from 1:00 p.m. to 2:15 p.m. EDT to provide information to plan fiduciaries and service providers on a final rule that improves the transparency of fees and expenses for workers in 401(k)-type retirement plans. http://www.dol.gov/ebsa/newsroom/2011/EBSA090711.html http://www.dol.gov/ebsa/newsroom/2011/EBSA090711.html The court ordered Thommes and Benick to make restitution to the plan in the amount of $24,676.40 which represents the $18,695.23 in unremitted employee contributions and $5,981.17 in lost opportunity costs which accrued as a result of the non-remittance and untimely remittance of employee contributions to the plan. Thommes and Benick are also permanently enjoined from serving or acting as a fiduciary or service provider with respect to any employee benefit plan subject to the Employment Retirement Income Security Act. http://www.dol.gov/ebsa/newsroom/newsbriefs/11-18-CHI.html http://www.dol.gov/ebsa/newsroom/newsbriefs/11-18-CHI.html The court ordered Phelan to repay the health plan contributions to those plan participants, who were employees of Phezer Enterprises and had voluntary employee health premium contributions withheld from their pay for contribution to the plan from May 3, 2008, through July 12, 2008. Phelan must also pay $369 in lost opportunity cost to the collective participants on a pro rata basis. Phelan is also permanently enjoined for serving or acting as a fiduciary or service provider with respect to any employee benefit plan subject to the Employment Retirement Income Security Act. http://www.dol.gov/ebsa/newsroom/newsbriefs/11-17-CHI.html http://www.dol.gov/ebsa/newsroom/newsbriefs/11-17-CHI.html The court ordered Sowers and Alliance Excavating, Inc., formerly located in Grove City, Ohio, removed as fiduciaries of the Plan. Additionally, the court appointed Summit Benefit Solutions, Inc. as an independent fiduciary to distribute $5,977 in assets from the orphaned Plan to 10 former employees of the company. The consent order and judgment gives the independent fiduciary authority to distribute assets to participants and beneficiaries before terminating the Plan. Sowers is also permanently enjoined from serving or acting as a fiduciary or service provider with respect to any employee benefit plan subject to the Employment Retirement Income Security Act. http://www.dol.gov/ebsa/newsroom/newsbriefs/11-16-CHI.html http://www.dol.gov/ebsa/newsroom/newsbriefs/11-16-CHI.html Brenda Duncan and Proto Craft, Inc. are permanently enjoined and restrained from violating the provisions of Title I of ERISA. Brenda Duncan and Proto Craft, Inc. are removed as fiduciaries to the plan and are permanently enjoined from serving or acting as fiduciaries or service providers to any ERISA covered employee benefit plan. Summit Benefit Solutions, Inc. is appointed the independent fiduciary for the Plan. http://www.dol.gov/ebsa/newsroom/newsbriefs/11-14-CHI.html http://www.dol.gov/ebsa/newsroom/newsbriefs/11-14-CHI.html The court has appointed, AMI Benefit Plan Administrators, Inc., to distribute the assets to qualified participants, and to terminate the plan and trust. Additionally, the court has permanently bared Subspecialty Centers of America LLC and Weinberger from serving as a fiduciaries or service providers to any ERISA-covered employee benefit plan in the future. http://www.dol.gov/ebsa/newsroom/newsbriefs/11-13-CHI.html http://www.dol.gov/ebsa/newsroom/newsbriefs/11-13-CHI.html The U.S. Department of Labor has sued defunct SEI Environmental Inc. and its president, Wiley McAllen Finley, to force the repayment of employee contributions totaling $10,717 that the suit alleges were not forwarded to the environmental consulting company's 401(k) plan in violation of the Employee Retirement Income Security Act. http://www.dol.gov/ebsa/newsroom/2011/11-1221-ATL.html http://www.dol.gov/ebsa/newsroom/2011/11-1221-ATL.html Today, the U.S. Departments of Labor, Health and Human Services, and the Treasury proposed new rules under the Affordable Care Act that will enable consumers to easily understand their health coverage and determine the best health insurance options for themselves and their families. Likewise, these proposed rules will assist employers in finding the best coverage for their business and their employees. Under the proposed rules announced today, health insurers and group health plans will provide consumers with clear, consistent and comparable information about their health plan benefits and coverage. The new forms, scheduled to be available in 2012, will be a critical resource for more than 180 million health insurance consumers with private health insurance coverage. http://www.dol.gov/ebsa/newsroom/2011/11-1232-NAT.html http://www.dol.gov/ebsa/newsroom/2011/11-1232-NAT.html The U.S. Department of Labor's EBSA will host a Webcast on Wednesday, August 24, to inform plan sponsors and service providers about the EBSA enforcement program, and how to prepare for a possible investigation. http://www.dol.gov/ebsa/newsroom/2011/EBSANews081711.html http://www.dol.gov/ebsa/newsroom/2011/EBSANews081711.html A consent judgment and order have been entered in federal district court requiring $28,504 to be restored to the Modern Plumbing Co. Inc. 401(k) Plan, resolving a lawsuit filed by the U.S. Department of Labor. The suit alleged that the following defendants violated the Employee Retirement Income Security Act: Modern Plumbing Co. Inc.; Modern Plumbing Supply Inc.; Modern Air Conditioning Inc., doing business as A/C Plus of Pasadena; and Albert Lloyd Hollub, one of the companies' majority owners. http://www.dol.gov/ebsa/newsroom/2011/11-1015-DAL.html http://www.dol.gov/ebsa/newsroom/2011/11-1015-DAL.html The U.S. Department of Labor's Advisory Council on Employee Welfare and Pension Benefit Plans, also known as the ERISA Advisory Council, will meet Aug. 30–Sept. 1 at DOL headquarters, 200 Constitution Ave. NW, Washington, D.C. 20210, in Room C-5515-1A. http://www.dol.gov/ebsa/newsroom/2011/11-1191-NAT.html http://www.dol.gov/ebsa/newsroom/2011/11-1191-NAT.html The U.S. Department of Labor's EBSA, in conjunction with the State's Attorney Office for Washington County, Maryland, is seeking criminal convictions for Yasamane Rowhani and Hassan Mohammadi for allegedly stealing from the employee health benefit plan sponsored by the Hagerstown Hotel and Convention Center located in Hagerstown, Md. http://www.dol.gov/ebsa/newsroom/2011/ebsa080411.html http://www.dol.gov/ebsa/newsroom/2011/ebsa080411.html The U.S. Department of Labor has sued Lincolnton-based Belding Hausman Inc. and President Curtis Wilford Stowe to restore $144,459 in employee contributions, employee loan repayments and lost earnings to the defunct company's deferred compensation plan. The lawsuit follows an investigation by the department's EBSA that found the defendants violated the Employee Retirement Income Security Act. http://www.dol.gov/ebsa/newsroom/2011/11-1122-ATL.html http://www.dol.gov/ebsa/newsroom/2011/11-1122-ATL.html The U.S. Department of Labor's EBSA is soliciting nominations to fill five three-year vacancies on the Advisory Council on Employee Welfare and Pension Benefit Plans, known as the ERISA Advisory Council. The deadline to submit nominations is Sept. 16. http://www.dol.gov/ebsa/newsroom/2011/11-1108-NAT.html http://www.dol.gov/ebsa/newsroom/2011/11-1108-NAT.html The court ordered Eagan to pay $9,879.19 in total, $3,797.61 to Allegra Print and Imaging 401(k) Plan and $6,081.58 to the Allegra Print and Imaging Health Plan. The monies represent total outstanding unremitted health premiums, loan payments and associated lost opportunity cost owed to the plans. http://www.dol.gov/ebsa/newsroom/newsbriefs/11-11-CHI.html http://www.dol.gov/ebsa/newsroom/newsbriefs/11-11-CHI.html The U.S. Department of Labor has sued the Mirror Factory Inc., a custom mirror and glass company in Plymouth, Minn., and its co-owners, Jeff Hagstrom and Daniel Elofson, to restore $14,651.38 in employees' pre-tax contributions plus lost interest to the company's 401(k) plan. The case resulted from an investigation by the department's EBSA into alleged violations of the Employee Retirement Income Security Act. http://www.dol.gov/ebsa/newsroom/2011/11-474-CHI.html http://www.dol.gov/ebsa/newsroom/2011/11-474-CHI.html The U.S. Department of Labor has obtained a consent judgment that restores $16,047 to the participants in Craftsmen Custom Cabinets Inc.'s savings incentive match plan for employees individual retirement account. http://www.dol.gov/ebsa/newsroom/2011/11-746-ATL.html http://www.dol.gov/ebsa/newsroom/2011/11-746-ATL.html The U.S. Department of Labor's EBSA has issued a final regulation under the Employee Retirement Income Security Act to extend and align the applicability dates for its retirement plan fee disclosure rules. http://www.dol.gov/ebsa/newsroom/2011/11-1063-NAT.html http://www.dol.gov/ebsa/newsroom/2011/11-1063-NAT.html The U.S. Department of Labor has obtained a consent judgment and order to restore $46,869 to the employee benefit plan of now defunct AC General Engineering Inc., formerly located in Sacramento. The consent judgment and order resolve a lawsuit filed by the DOL in the U.S. District Court for the Eastern District of California against the company and its officers and co-owners, Christopher Barringer and Atilano Alcala. http://www.dol.gov/ebsa/newsroom/2011/11-972-SAN.html http://www.dol.gov/ebsa/newsroom/2011/11-972-SAN.html The U.S. Department of Labor's EBSA and the Indiana Department of Insurance will co-host a free health law compliance assistance seminar July 20 and 21, 8:30 a.m. to 5 p.m. both days, at the Butler University Jordan Hall, located at 4600 Sunset Avenue, Indianapolis, IN 46208. http://www.dol.gov/ebsa/newsroom/2011/ebsa070611.html http://www.dol.gov/ebsa/newsroom/2011/ebsa070611.html The U.S. Department of Labor filed a complaint to appoint an independent fiduciary to terminate the plan and distribute its assets. After the death in May 2010 of Patrick Tuckner, the owner of the company and the plan trustee, the company failed to administer the plan in order to effectuate its termination, and the distribution of Plan assets to the participants and beneficiaries. As of Feb. 2, 2011, the plan had assets totaling approximately $54,095 and 22 participants. http://www.dol.gov/ebsa/newsroom/newsbriefs/11-10-CHI.html http://www.dol.gov/ebsa/newsroom/newsbriefs/11-10-CHI.html The Department is asking the court to order the defendants to make the plans whole for any losses and permanently enjoin the defendants from serving as a fiduciary or service provider to an ERISA covered plan. http://www.dol.gov/ebsa/newsroom/newsbriefs/11-09-CHI.html http://www.dol.gov/ebsa/newsroom/newsbriefs/11-09-CHI.html The U.S. Department of Labor has sued Dowe and Wagner Inc., a heating and air conditioning company in Richmond, and its co-owners, Joseph Wagner and Thomas Eppers, to restore $31,650 to the company's 401(k) plan. The case resulted from an investigation by the department's EBSA into alleged violations of the Employee Retirement Income Security Act. http://www.dol.gov/ebsa/newsroom/2011/11-359-CHI.html http://www.dol.gov/ebsa/newsroom/2011/11-359-CHI.html The U.S. Department of Labor's EBSA and the North Carolina Department of Insurance will co-host a free health law compliance assistance seminar June 28 and 29, 8:30 a.m. to 5 p.m. both days, at the North Carolina State University McKimmon Center, located at 1101 Gorman Street, Raleigh, NC 27606. http://www.dol.gov/ebsa/newsroom/2011/ebsa062311.html http://www.dol.gov/ebsa/newsroom/2011/ebsa062311.html The U.S. Department of Labor's Advisory Council on Employee Welfare and Pension Benefit Plans, also known as the ERISA Advisory Council, will meet July 19–21 at DOL headquarters, 200 Constitution Ave. NW, Washington, D.C., 20210, in Room C-5515-1A. http://www.dol.gov/ebsa/newsroom/2011/11-955-NAT.html http://www.dol.gov/ebsa/newsroom/2011/11-955-NAT.html The U.S. Department of Labor's EBSA will host its first Spanish-language "Guide to Retirement Saving" webcast on June 22. The free event will be co-sponsored by the Certified Financial Planner Board of Standards Inc. in coordination with the National Council of La Raza. http://www.dol.gov/ebsa/newsroom/2011/11-912-NAT.html http://www.dol.gov/ebsa/newsroom/2011/11-912-NAT.html The court ordered Joos to begin making payments to the Plan effective May 1, 2011, and to make monthly payments to the Plan through January 1, 2018. She will be required to issue payments from the Plan's trust account to the affected participants on Dec. 2, 2013, Dec. 2, 2015, and Jan. 2, 2018. Upon completion of the payment plan and distribution of the Plan's assets, Joos shall be permanently enjoined from serving or acting as a fiduciary or service provider to any employee benefit plan subject to the Employee Retirement Income Security Act of 1974. http://www.dol.gov/ebsa/newsroom/newsbriefs/11-07-CHI.html http://www.dol.gov/ebsa/newsroom/newsbriefs/11-07-CHI.html The court ordered that Open Webs Corp. be removed from its fiduciary position and appointed an independent fiduciary to administer the 401(k) plan and distribute plan benefits to participants. http://www.dol.gov/ebsa/newsroom/NewsBriefs/11-063-PHI.html http://www.dol.gov/ebsa/newsroom/NewsBriefs/11-063-PHI.html On or about April 1, 2000, Open Webs Corp., based in Pittsburgh, Pa., established a 401(k) plan for its employees. During the course of an investigation conducted by the Department of Labor's EBSA, the agency found that the company ceased operations in or near 2006. The investigation also found that since that time, the company had not taken any steps to properly administer the plan and distribute benefits to participants. As a result, nine former employees could not receive pension benefits totaling approximately $46,048.38. On Jan. 19, 2011, the DOL filed a complaint in the U.S. District Court for the Western District of Pennsylvania seeking the appointment of an independent fiduciary for purposes of terminating the plan and distributing its remaining assets. http://www.dol.gov/ebsa/newsroom/NewsBriefs/11-063-PHI.html http://www.dol.gov/ebsa/newsroom/NewsBriefs/11-063-PHI.html The U.S. Department of Labor has announced that Michael Doggett, business representative for the Carpenters Local Union 502 in Port Arthur, has been sentenced to five months in prison and ordered to make $39,324 in restitution payments for embezzling from a union benefit plan. http://www.dol.gov/ebsa/newsroom/2011/11-794-DAL.html http://www.dol.gov/ebsa/newsroom/2011/11-794-DAL.html The U.S. Department of Labor's EBSA will co-host a free health law compliance assistance seminar with the Delaware Insurance Department on Tuesday, June 7, and Wednesday, June 8. http://www.dol.gov/ebsa/newsroom/2011/ebsa053111.html http://www.dol.gov/ebsa/newsroom/2011/ebsa053111.html The U.S. Department of Labor's EBSA has announced that it will publish in tomorrow's Federal Register a notice proposing to extend and align the applicability dates for its retirement plan fee disclosure rules. http://www.dol.gov/ebsa/newsroom/2011/11-775-NAT.html http://www.dol.gov/ebsa/newsroom/2011/11-775-NAT.html The U.S. Department of Labor has sued oil field equipment and machine parts manufacturer MWDay Group Inc., doing business as Paradigm Machine Works Inc., in Stafford, and its owner and president, Michael W. Day. The lawsuit alleges that the defendants failed to forward employee contributions and matching employer contributions to the company's 401(k) plan in violation of the Employee Retirement Income Security Act. http://www.dol.gov/ebsa/newsroom/2011/11-728-DAL.html http://www.dol.gov/ebsa/newsroom/2011/11-728-DAL.html The U.S. Department of Labor has sued defunct mental health services provider Embrenche LLC and the company's owners, Marty Hickman, Joe Parker and Avery Hairston, for allegedly violating the Employee Retirement Income Security Act. The lawsuit alleges that the defendants diverted employees' contributions away from the company's 401(k) profit-sharing plan, and failed to administer and terminate the plan after the company ceased operating. http://www.dol.gov/ebsa/newsroom/2011/11-735-ATL.html http://www.dol.gov/ebsa/newsroom/2011/11-735-ATL.html The U.S. Department of Labor has sued former Fletcher-based Unicomp Inc. and its chief executive officer, Stephen Hafer, to restore losses suffered by participants in the company's health plan. http://www.dol.gov/ebsa/newsroom/2011/11-685-ATL.html http://www.dol.gov/ebsa/newsroom/2011/11-685-ATL.html The U.S. Department of Labor has sued fiduciaries of architectural company Milton Pate and Associates seeking to recover $135,516 for participants and beneficiaries of the company's 401(k) profit-sharing plan. http://www.dol.gov/ebsa/newsroom/2011/11-684-ATL.html http://www.dol.gov/ebsa/newsroom/2011/11-684-ATL.html The U.S. Department of Labor's EBSA is hosting a free, online workshop on May 24, 2011, from 10am-12:30pm EDT, for employee benefit plan sponsors, officials, parties-in-interest and service providers who are interested in learning how to correct certain fiduciary violations under the Employee Retirement Income Security Act (ERISA). http://www.dol.gov/ebsa/newsroom/2011/ebsa052011.html http://www.dol.gov/ebsa/newsroom/2011/ebsa052011.html The U.S. Department of Labor has obtained a consent judgment and order to restore $41,093 to the employee benefit plan of now-defunct Dalton Mechanical Services Inc., formerly located in Clarks Summit. The action resolves a lawsuit filed by the department in the U.S. District Court for the Middle District of Pennsylvania against the company and Scott Slocum, its president and co-owner. A default judgment also was entered against the company. http://www.dol.gov/ebsa/newsroom/2011/11-727-PHI.html http://www.dol.gov/ebsa/newsroom/2011/11-727-PHI.html The Department of Labor filed a lawsuit asking the court to order Keating to correct the prohibited transactions and make good to the Plan any losses, including lost interest, resulting from fiduciary breaches committed by him. The suit also seeks to permanently enjoin Keating from acting as a fiduciary or service provider with respect to any employee benefit plan subject to the Employee Retirement Income Security Act and requests that an independent fiduciary be appointed to administer and if necessary terminate the Plan and to set off Keating's individual plan account, if any, against the amount of plan losses. http://www.dol.gov/ebsa/newsroom/newsbriefs/11-05-CHI.html http://www.dol.gov/ebsa/newsroom/newsbriefs/11-05-CHI.html The U.S. Department of Labor has sued the trustee of the North Coast Wood Products Profit Sharing Plan, Harry Fishleigh III, for improperly transferring $96,837.63 in plan assets to his son, Steven Fishleigh, in violation of the Employee Retirement Income Security Act. http://www.dol.gov/ebsa/newsroom/2011/11-562-CHI.html http://www.dol.gov/ebsa/newsroom/2011/11-562-CHI.html The Department of Labor filed a lawsuit asking the court to order Ayoub and Yamasaki Associates Inc. to make good to the plans any losses, including lost opportunity cost and to require Ayoub to secure a fidelity bond which is to remain active until the plans are terminated. The suit also seeks to permanently enjoin Ayoub and Yamasaki Associates Inc. from acting as a fiduciary or service provider with respect to any employee benefit plan subject to the Employee Retirement Income Security Act. The department has asked the court to appoint an independent fiduciary to oversee the Plans after Ayoub and Yamasaki Associates Inc. are removed. http://www.dol.gov/ebsa/newsroom/newsbriefs/11-01-CHI.html http://www.dol.gov/ebsa/newsroom/newsbriefs/11-01-CHI.html The U.S. Department of Labor has sued Jendusa Engineering Associates Inc., an architectural company headquartered in Hartland, Wis., owner James Jendusa and fiduciary Carrie Jendusa to recover $10,441.53 in voluntary employee contributions and interest owed to the company's 401(k) plan. The case resulted from an investigation by the department's EBSA into alleged violations of the Employee Retirement Income Security Act. http://www.dol.gov/ebsa/newsroom/2011/11-93-CHI.html http://www.dol.gov/ebsa/newsroom/2011/11-93-CHI.html The U.S. Department of Labor has obtained a consent order and judgment requiring Graves Electric Inc., a Grand Blanc electrical contractor, and the company's owner, Joel Graves, to restore $20,003.20 in unremitted employee contributions and lost opportunity costs to the company's savings incentive match plan for employees individual retirement account. The consent order and judgment resolve a lawsuit filed by the department in November 2009, following an investigation by its EBSA into violations of the Employee Retirement Income Security Act. http://www.dol.gov/ebsa/newsroom/2011/11-516-CHI.html http://www.dol.gov/ebsa/newsroom/2011/11-516-CHI.html Financial services company Wall Street Capitol and its president, Richard Siskey, have agreed to restore $242,975.78 to two retirement profit sharing plans as part of a settlement agreement with the U.S. Department of Labor. The Charlotte-based company and its president allegedly violated the Employee Retirement Income Security Act. http://www.dol.gov/ebsa/newsroom/2011/11-422-ATL.html http://www.dol.gov/ebsa/newsroom/2011/11-422-ATL.html The U.S. Department of Labor has obtained a consent order and judgment requiring Quality Tool and Machine Inc. of Sparta and the company's president, Jerry Freimuth, to restore $11,763 in employee contributions and lost opportunity costs to the company's savings incentive match plan for employees individual retirement account. The judgment, entered in U.S. district court in Madison, resolves a lawsuit filed by the department alleging violations of the Employee Retirement Income Security Act. http://www.dol.gov/ebsa/newsroom/2011/11-559-CHI.html http://www.dol.gov/ebsa/newsroom/2011/11-559-CHI.html The U.S. Department of Labor has sued Brian T. Kiernan, owner of Kiernan Heating and Air Conditioning Inc., a defunct Racine company, for allegedly failing to forward $19,811.98 in employee contributions to the company's savings incentive match plan for employees individual retirement account in violation of the Employee Retirement Income Security Act. http://www.dol.gov/ebsa/newsroom/2011/11-572-CHI.html http://www.dol.gov/ebsa/newsroom/2011/11-572-CHI.html The U.S. Department of Labor has sued Alliance Excavating Inc. of Grove City and the defunct company's owner, James Sowers, for allegedly failing to administer and terminate the Alliance Excavating Inc. 401(k) Profit Sharing Plan and Trust, in violation of the Employee Retirement Income Security Act. http://www.dol.gov/ebsa/newsroom/2011/11-556-CHI.html http://www.dol.gov/ebsa/newsroom/2011/11-556-CHI.html The U.S. Department of Labor's EBSA (EBSA) is sponsoring a free webcast for filers of the Form 5500 annual report for employee benefit plans. The webcast, "Going Forward, Year Two of Electronic Filing with EFAST2 - A Compliance Assistance Webcast" will be held on April 27 from 1:00 – 2:30 PM EDT. http://www.dol.gov/ebsa/newsroom/2011/ebsa042611.html http://www.dol.gov/ebsa/newsroom/2011/ebsa042611.html The U.S. Department of Labor today announced that a federal district court in Cincinnati has issued a default judgment against Christopher Technologies LLC of West Chester and its president, John Fussner, ordering $37,232.40 in employee contributions and lost opportunity costs be repaid to the participants and beneficiaries of the company's 401(k) profit-sharing plan. http://www.dol.gov/ebsa/newsroom/2011/11-342-CHI.html http://www.dol.gov/ebsa/newsroom/2011/11-342-CHI.html The U.S. Department of Labor's EBSA will co-host a free health law compliance assistance seminar with the Texas Department of Insurance on Tuesday, May 17, and Wednesday, May 18, at the University of Texas at Austin's Thompson Conference Center. http://www.dol.gov/ebsa/newsroom/2011/11-548-DAL.html http://www.dol.gov/ebsa/newsroom/2011/11-548-DAL.html The U.S. Department of Labor has sued defunct Metal Processors Inc., a die maker in Stevensville, and owner Russel Reschke, to restore $16,200 in employee contributions plus lost interest to the company's 401(k) plan. The case resulted from an investigation by the department's EBSA into alleged violations of the Employee Retirement Income Security Act. http://www.dol.gov/ebsa/newsroom/2011/11-502-CHI.html http://www.dol.gov/ebsa/newsroom/2011/11-502-CHI.html The U.S. Department of Labor has sued now defunct Family Care Management of Northbrook and trustees Robert Kaplan, Michael Kaplan and Arnold Kaplan for allegedly failing to administer and terminate the company's 401(k) and profit-sharing plan in violation of the Employee Retirement Income Security Act. This situation has prevented qualified participants from obtaining distributions of their individual account balances since the company ceased operations in 2007. At that time, the plan had 15 participants and assets totaling $124,236. http://www.dol.gov/ebsa/newsroom/2011/11-475-CHI.html http://www.dol.gov/ebsa/newsroom/2011/11-475-CHI.html The U.S. Department of Labor has sued Greeder Mondor Electric Co., a defunct Oak Park Heights electrical contractor, and the company's owner, Scott Mondor, for allegedly failing to administer and terminate the Greeder Mondor Electric Co. 401(k) Profit Sharing Plan in violation of the Employee Retirement Income Security Act. http://www.dol.gov/ebsa/newsroom/2011/11-340-CHI.html http://www.dol.gov/ebsa/newsroom/2011/11-340-CHI.html The U.S. Department of Labor has obtained a consent judgment and court order requiring Janesville-based Premier Vending Inc. and David R. Biggerstaff, the president and former owner of the company, to restore a total of $31,204.46 in voluntary employee contributions plus lost interest to the company's 401(k) plan. The judgment, entered in U.S. district court in Madison, resolves a lawsuit filed by the department for violations of the Employee Retirement Income Security Act. http://www.dol.gov/ebsa/newsroom/2011/11-432-CHI.html http://www.dol.gov/ebsa/newsroom/2011/11-432-CHI.html The U.S. Department of Labor has sued David Sisti, the named trustee of the Equity Concepts Inc. Profit Sharing and 401(k) Plan of Cranston, R.I., for failure to remit employee contributions to the plan, in violation of the federal Employee Retirement Income Security Act. http://www.dol.gov/ebsa/newsroom/2011/11-451-BOS.html http://www.dol.gov/ebsa/newsroom/2011/11-451-BOS.html The court ordered that the defendants are enjoined from violating the provisions of Title I of ERISA. Defendants are permanently enjoined from acting as a fiduciary, trustee, agent or representative in any capacity to any employee benefit plan, as defined by ERISA. Defendants shall make restitution to the Metro Mechanical Systems, Inc. 401(k) Profit Sharing Plan in the amount of $7,291.26, with post judgment interest to be assessed against any remaining unpaid balance of such amount from the date of the judgment until paid in full. Defendants are jointly and severally liable to pay restitution. Defendants are removed from any position the defendants hold as a named or functional fiduciary to the plan. Larry Lefoldt is appointed as the independent fiduciary to the plan. The defendants shall deliver or make available to the independent fiduciary any information, documents, files or other compilations, wherever and however stored. The independent fiduciary is authorized to give instructions respecting the disposition of assets of the plan. http://www.dol.gov/ebsa/newsroom/2011/ebsa041111.html http://www.dol.gov/ebsa/newsroom/2011/ebsa041111.html The U.S. Department of Labor is suing CSG Group, and the company's owner, Thomas Wimberly, for violating the Employee Retirement Income Security Act and to restore losses suffered by participants and beneficiaries of the company's 401(k) profit sharing plan. http://www.dol.gov/ebsa/newsroom/2011/11-525-ATL.html http://www.dol.gov/ebsa/newsroom/2011/11-525-ATL.html The U.S. Department of Labor has obtained a consent judgment from the U.S. District Court for the District of Delaware ordering David Owen, the former president of defunct Owen Printing Dover Inc., to pay $4,640 in restitution and interest to the company's 401(k) plan. http://www.dol.gov/ebsa/newsroom/2011/11-355-PHI.html http://www.dol.gov/ebsa/newsroom/2011/11-355-PHI.html The U.S. Department of Labor today announced it is soliciting public comments to assist in determining whether and possibly how to expand or modify current rules regarding the electronic distribution of employee benefit plan information. Plan information, such as quarterly account statements, is required to be disclosed under the Employee Retirement Income Security Act, which is enforced by the department's EBSA. http://www.dol.gov/ebsa/newsroom/2011/11-483-NAT.html http://www.dol.gov/ebsa/newsroom/2011/11-483-NAT.html A federal district court in Indianapolis has ordered Hoosier Foot and Ankle LLC, a non-surgical foot and ankle care business in Columbus, and owner Patrick DeHeer to repay $18,000 in employee contributions and lost opportunity costs to the participants and beneficiaries of the company's 401(k) profit-sharing plan. The order and a consent judgment were obtained by the U.S. Department of Labor, resolving a lawsuit it filed alleging violations of the Employee Retirement Income Security Act. http://www.dol.gov/ebsa/newsroom/2011/11-431-CHI.html http://www.dol.gov/ebsa/newsroom/2011/11-431-CHI.html Independent Bank has agreed to restore a combined $87,000 to the Richard P. Payea M.D., P.C. Money Purchase Plan and the Richard P. Payea M.D., P.C. Profit Sharing Plan as part of the settlement of a lawsuit filed by the U.S. Department of Labor against the bank for alleged violations of the Employee Retirement Income Security Act. The bank also has been assessed $8,700 in civil money penalties. http://www.dol.gov/ebsa/newsroom/2011/11-417-CHI.html http://www.dol.gov/ebsa/newsroom/2011/11-417-CHI.html The U.S. Department of Labor has obtained a default judgment ordering Vincent's Apartment Washer Service Inc. and its former owner and president, Keith D. Vincent, to restore $16,939 to the company's savings incentive match plan for employees. http://www.dol.gov/ebsa/newsroom/2011/11-233-SEA.html http://www.dol.gov/ebsa/newsroom/2011/11-233-SEA.html The U.S. Department of Labor has sued McIntyre Construction Inc. of Virginia Beach and its vice president, Robert Berkopec, for failing to remit employee contributions to the company's 401(k) plan in violation of the Employee Retirement Income Security Act. http://www.dol.gov/ebsa/newsroom/2011/11-373-PHI.html http://www.dol.gov/ebsa/newsroom/2011/11-373-PHI.html The U.S. Department of Labor has sued B and K Builders Inc. of Marshfield and its co-owners, Robert Aschenbrenner and Kenneth Staab, to restore $17,835.41 plus interest to the company's 401(k) profit-sharing plan. The case is the result of an investigation by the department's EBSA into alleged violations of the Employee Retirement Income Security Act. http://www.dol.gov/ebsa/newsroom/2011/11-383-CHI.html http://www.dol.gov/ebsa/newsroom/2011/11-383-CHI.html The U.S Department of Labor's EBSA today announced a final amendment to Prohibited Transaction Exemption 96-23 that broadens the transactions allowed for employee benefit plans whose assets are managed by in-house asset managers (INHAMs). The exemption also imposes conditions to protect plans and their assets. http://www.dol.gov/ebsa/newsroom/2011/ebsa033111.html http://www.dol.gov/ebsa/newsroom/2011/ebsa033111.html The U.S. Department of Labor today transmitted to Congress the first annual report on self-insured employee health benefit plans. The report, which was mandated by the Affordable Care Act, contains general information on self-insured employee health benefit plans and financial information on the employers that sponsor them. http://www.dol.gov/ebsa/newsroom/2011/ebsa033011.html http://www.dol.gov/ebsa/newsroom/2011/ebsa033011.html The U.S. Department of Labor's EBSA announced today that they have posted online the transcript from the public hearing on defining when a person is deemed a "fiduciary" by reason of giving investment advice for a fee under the Employee Retirement Income Security Act. The transcript is posted on EBSA's webpage at http://www.dol.gov/ebsa and has been placed in EBSA's Public Disclosure Room. http://www.dol.gov/ebsa/newsroom/2011/ebsa032811.html http://www.dol.gov/ebsa/newsroom/2011/ebsa032811.html The U.S. Department of Labor has sued McIntyre Construction Inc. of Virginia Beach and its vice president, Robert Berkopec, for failing to remit employee contributions to the company's 401(k) plan in violation of the Employee Retirement Income Security Act. http://www.dol.gov/ebsa/newsroom/2011/11-373-PHI.html http://www.dol.gov/ebsa/newsroom/2011/11-373-PHI.html The U.S. Department of Labor has sued Family Mobile Medical Services Inc. of Merrillville and owner Ben Richmond to restore $8,965.94 in voluntary employee contributions plus interest to the company's retirement plan. The case resulted from an investigation by the DOL's EBSA into alleged violations of the Employee Retirement Income Security Act. http://www.dol.gov/ebsa/newsroom/2011/11-331-CHI.html http://www.dol.gov/ebsa/newsroom/2011/11-331-CHI.html The U.S. Department of Labor has sued Elmhurst-based Results One Financial LLC and Steven Salutric, co-founder and director of the investment management company, for allegedly withdrawing more than $1 million from five pension plan client accounts from 2005 through 2009. The lawsuit follows an investigation by the department's EBSA into alleged violations of the Employee Retirement Income Security Act. http://www.dol.gov/ebsa/newsroom/2011/11-329-CHI.html http://www.dol.gov/ebsa/newsroom/2011/11-329-CHI.html The U.S. Department of Labor has obtained a default judgment appointing an independent fiduciary to manage the employee retirement savings plan of defunct Janbridge Inc., formerly located in Philadelphia. http://www.dol.gov/ebsa/newsroom/2011/11-390-PHI.html http://www.dol.gov/ebsa/newsroom/2011/11-390-PHI.html The U.S. Department of Labor's EBSA will sponsor "Getting It Right – Know Your Fiduciary Responsibilities" webcasts on Wednesday, March 23, and Thursday, March 24. The webcasts are part of the agency's national fiduciary education campaign to increase awareness and understanding of basic responsibilities associated with operating private sector retirement plans. http://www.dol.gov/ebsa/newsroom/2011/11-388-NAT.html http://www.dol.gov/ebsa/newsroom/2011/11-388-NAT.html The U.S. Department of Labor has sued Subspecialty Centers of America LCC in Merriville and the defunct company's owner, Mark S. Weinberger, for allegedly failing to administer and terminate the Subspecialty Centers of America LCC 401(k) Plan and Trust in violation of the Employee Retirement Income Security Act. http://www.dol.gov/ebsa/newsroom/2011/11-326-CHI.html http://www.dol.gov/ebsa/newsroom/2011/11-326-CHI.html The U.S. Department of Labor has obtained a court order appointing an independent fiduciary to manage the abandoned 401(k) plan of Swigonski Management Group, formerly located in Sherrill. http://www.dol.gov/ebsa/newsroom/2011/11-366-NEW.html http://www.dol.gov/ebsa/newsroom/2011/11-366-NEW.html The U.S. Department of Labor has sued USA Star Healthcare Group - East Los Angeles Inc. and executives of ElaStar Community Hospital for failure to remit and timely forward employee contributions and loan repayments to the hospital's retirement plan in violation of the Employee Retirement Income Security Act. The company also operated under the name ElaStar Community Hospital. http://www.dol.gov/ebsa/newsroom/2011/11-243-SAN.html http://www.dol.gov/ebsa/newsroom/2011/11-243-SAN.html The U.S. Department of Labor has sued Parkland Hotel Investors LP, the fiduciary of the Northland Inn 401(k) plan, for violations of the Employee Retirement Income Security Act. The suit alleges that the plan was abandoned after Parkland ceased business operations in July 2009 and failed to distribute approximately $1,350,000 in assets to 96 plan participants. http://www.dol.gov/ebsa/newsroom/2011/11-361-CHI.html http://www.dol.gov/ebsa/newsroom/2011/11-361-CHI.html The U.S. Department of Labor has obtained a consent judgment that restores more than $107,775 to participants in the Miami-based Michigan Drill Corp. Profit Sharing Plan. http://www.dol.gov/ebsa/newsroom/2011/11-297-ATL.html http://www.dol.gov/ebsa/newsroom/2011/11-297-ATL.html The U. S. Department of Labor's EBSA will hold a public forum on April 8, 2011, on the health plan automatic enrollment provisions of the Fair Labor Standards Act added by the Affordable Care Act. The forum will begin at 1 p.m. in Room C-5521 (#4) at the U.S. Department of Labor, 200 Constitution Avenue, N.W. in Washington, D.C. The Department of the Treasury and the Department of Health and Human Services will also participate in the forum. http://www.dol.gov/ebsa/newsroom/2011/ebsa031411.html http://www.dol.gov/ebsa/newsroom/2011/ebsa031411.html A federal district court in Minneapolis has ordered Larry Lauterbach, the president and former owner of Slate Cement Inc., a defunct Burnsville construction company, to restore $17,273.18 in unremitted employee contributions and lost opportunity costs to the company's health and dental plan, and $747.20 in unremitted employee contributions to the company's 401(k) plan. http://www.dol.gov/ebsa/newsroom/2011/11-322-CHI.html http://www.dol.gov/ebsa/newsroom/2011/11-322-CHI.html The U.S. Department of Labor has sued Stephen Thomas, individually and as trustee of the defunct Gagne Precast Concrete Products Inc. Employee Stock Ownership Plan, for alleged violations of the Employee Retirement Income Security Act that cost the plan millions of dollars in losses. ERISA is the federal law that protects the assets and participants of private sector employee benefit plans. http://www.dol.gov/ebsa/newsroom/2011/11-300-BOS.html http://www.dol.gov/ebsa/newsroom/2011/11-300-BOS.html The actions of the U.S. Department of Labor have ensured that $51,933.26 of un-remitted employee contributions and related lost opportunity costs have been returned to the Premier Properties USA Inc. 401(k) plan. http://www.dol.gov/ebsa/newsroom/2011/10-1471-CHI.html http://www.dol.gov/ebsa/newsroom/2011/10-1471-CHI.html The U.S. Department of Labor has sued Coin Builders LLC of Wisconsin Rapids and its president, Joseph Kreeger, to restore more than $1.3 million plus interest to the company's profit-sharing plan. The case resulted from an investigation by the department's EBSA into alleged violations of the Employee Retirement Income Security Act. http://www.dol.gov/ebsa/newsroom/2011/11-279-CHI.html http://www.dol.gov/ebsa/newsroom/2011/11-279-CHI.html The U.S. Department of Labor's EBSA announced that it is extending the time for submission of public comments on testimony submitted at the March 1-2, 2011, public hearing on the proposed rule defining when a person is deemed a "fiduciary" under the Employee Retirement Income Security Act. http://www.dol.gov/ebsa/newsroom/2011/ebsa030811.html http://www.dol.gov/ebsa/newsroom/2011/ebsa030811.html The U.S. Department of Labor has obtained a consent judgment and order permanently barring the owner of defunct Quartz Mountain Aerospace Inc., which operated in Altus as well as in Coffeeville, Kan., from serving in a fiduciary capacity to any employee benefit plan unless he obtains fiduciary training by Jan. 31, 2012. http://www.dol.gov/ebsa/newsroom/2011/11-253-DAL.html http://www.dol.gov/ebsa/newsroom/2011/11-253-DAL.html The third-party administrator to 56 employee benefit plans – most covered by the Employee Retirement Income Security Act – located throughout Ohio and several other states pleaded guilty to one count of embezzlement of $1 million in assets from 12 retirement plans. http://www.dol.gov/ebsa/newsroom/2011/11-228-CHI.html http://www.dol.gov/ebsa/newsroom/2011/11-228-CHI.html As part of America Saves Week, the U.S. Department of Labor's EBSA and the America Saves campaign of the Consumer Federation of America will sponsor a free webcast on Feb. 23 for small businesses and plan service providers. Topics include choosing a retirement savings plan and the advantages of direct deposits to small businesses and their employees. http://www.dol.gov/ebsa/newsroom/2011/11-221-NAT.html http://www.dol.gov/ebsa/newsroom/2011/11-221-NAT.html The U.S. District Court for the District of Connecticut in Hartford has ruled that both trustees of the James T. Farrell III Money Purchase Pension Plan in Hartford are liable to restore plan assets, which they misused to pay their personal expenses and operating expenses of Farrell Associates in violation of the Employee Retirement Income Security Act. http://www.dol.gov/ebsa/newsroom/2011/11-219-BOS.html http://www.dol.gov/ebsa/newsroom/2011/11-219-BOS.html The U.S. Department of Labor's EBSA today announced that it intends to extend the applicability date for the new disclosure rules under section 408(b)(2) of ERISA to Jan. 1, 2012. http://www.dol.gov/ebsa/newsroom/2011/ebsa021111.html http://www.dol.gov/ebsa/newsroom/2011/ebsa021111.html The U.S. Department of Labor has obtained a court judgment appointing an independent fiduciary to manage the retirement savings plan of Shawnee Hills Inc., a defunct mental health hospital formerly located in Charleston. http://www.dol.gov/ebsa/newsroom/2011/11-141-PHI.html http://www.dol.gov/ebsa/newsroom/2011/11-141-PHI.html The U.S. Department of Labor has sued Liberty-Pittsburgh Systems Inc. of Pittsburgh and its chief executive officer, Kevin T. Weir, for failing to remit employee contributions to its 401(k) plan in violation of the Employee Retirement Income Security Act. http://www.dol.gov/ebsa/newsroom/2011/11-139-PHI.html http://www.dol.gov/ebsa/newsroom/2011/11-139-PHI.html The U.S. Department of Labor has obtained a consent judgment ordering Arkion Life Sciences LLC and its corporate officers, Earnest W. Porta, Rick, L. Stejskal, Harvey L. Weaver and Anthony J. Simei, to restore $193,795 in restitution and interest to the company's 401(k) plan. http://www.dol.gov/ebsa/newsroom/2011/11-91-PHI.html http://www.dol.gov/ebsa/newsroom/2011/11-91-PHI.html The Advisory Council on Employee Welfare and Pension Benefit Plans (known as the ERISA Advisory Council) will convene its first meeting of 2011 by teleconference on Feb. 28, in Washington, D.C. at the U.S. Department of Labor, 200 Constitution Ave. NW, Room N5677. http://www.dol.gov/ebsa/newsroom/2011/ebsa020311.html http://www.dol.gov/ebsa/newsroom/2011/ebsa020311.html The U.S. Department of Labor has obtained a court judgment and order appointing an independent fiduciary to manage the 401(k) plan of defunct BlueSky Brands Inc. of Westerly, R.I. The judgment and order resolve a lawsuit filed by the DOL against the company for violations of the Employee Retirement Income Security Act. http://www.dol.gov/ebsa/newsroom/2011/11-87-BOS.html http://www.dol.gov/ebsa/newsroom/2011/11-87-BOS.html The U.S. Department of Labor has sued Premier Vending Inc. of Janesville and its president and co-owner, David R. Biggerstaff, to restore $26,163.50 to the company's 401(k) plan in voluntary employee contributions, plus lost interest. The case resulted from an investigation by the DOL's EBSA into alleged violations of the Employee Retirement Income Security Act. http://www.dol.gov/ebsa/newsroom/2011/11-54-CHI.html http://www.dol.gov/ebsa/newsroom/2011/11-54-CHI.html A federal district court in Minneapolis has granted the U.S. Department of Labor's motion for summary judgment requiring Copy Cat Business Systems Inc. and its former owners, Susan Blackford and Joel Blackford, to repay $13,218.76 in employee contributions and lost interest owed to the company's savings incentive match plan for employees individual retirement account. The court's decision resolves a lawsuit filed by the DOL against the defendants for alleged violations of the Employee Retirement Income Security Act. http://www.dol.gov/ebsa/newsroom/2011/11-43-CHI.html http://www.dol.gov/ebsa/newsroom/2011/11-43-CHI.html The U.S. Department of Labor has obtained a court judgment and order appointing an independent fiduciary to manage the 401(k) plan of defunct CEA Systems Inc. of Canton, Mass. The company operated as CEA Incorporated and CEA Inc. http://www.dol.gov/ebsa/newsroom/2011/10-1613-BOS.html http://www.dol.gov/ebsa/newsroom/2011/10-1613-BOS.html The U.S. Department of Labor has obtained a consent judgment requiring that the Castleton Group recognize in its bankruptcy filing a priority claim of $66,705 in health insurance premiums owed to plan participants of the former Raleigh-based company. http://www.dol.gov/ebsa/newsroom/2011/11-10-ATL.html http://www.dol.gov/ebsa/newsroom/2011/11-10-ATL.html The U.S. Department of Labor's EBSA will hold a public hearing on March 1, 2011 and if necessary, March 2, 2011, on the proposed regulation amending the definition of the term "fiduciary." The hearing will begin at 9 a.m. EST in the department's auditorium, 200 Constitution Ave. N.W. in Washington. http://www.dol.gov/ebsa/newsroom/2011/ebsa011111.html http://www.dol.gov/ebsa/newsroom/2011/ebsa011111.html The U.S. Department of Labor has filed a lawsuit against Thommes and Thomas Land Clearing Inc. of Scandia and its owners in the U.S. District Court for the District of Minnesota for their alleged failure to remit and timely forward employee contributions owed to the company's retirement plan, in violation of the Employee Retirement Income Security Act. http://www.dol.gov/ebsa/newsroom/2011/11-33-CHI.html http://www.dol.gov/ebsa/newsroom/2011/11-33-CHI.html The U.S. Department of Labor has sued Larry Chaney and his defunct company, CLRS Enterprises, of Portland for failing to forward approximately $11,000 in employee contributions withheld from employees' paychecks to the company's savings incentive match plan for employees individual retirement account, known as a SIMPLE IRA. The company formerly operated as Woodward Thomsen Co. http://www.dol.gov/ebsa/newsroom/2011/10-1712-BOS.html http://www.dol.gov/ebsa/newsroom/2011/10-1712-BOS.html Phyllis C. Borzi, assistant secretary of labor for the EBSA, will host a teleconference Jan. 10 from 1-2 p.m. EST to discuss the U.S. Department of Labor's implementation of the Affordable Care Act and the important protections that the legislation has introduced for America's workers. http://www.dol.gov/ebsa/newsroom/2011/11-32-NAT.html http://www.dol.gov/ebsa/newsroom/2011/11-32-NAT.html The U.S. Department of Labor has filed a lawsuit seeking the appointment of an independent fiduciary to oversee the abandoned 401(k) plan of defunct International Business Software Solutions, a company formerly located in Cranbury. The plan covered 31 participants and had $344,692 in assets as of December 2009, the latest data available. http://www.dol.gov/ebsa/newsroom/2011/10-1796-NEW.html http://www.dol.gov/ebsa/newsroom/2011/10-1796-NEW.html The U.S. Department of Labor has obtained a court order restoring $601,736 to the employee stock ownership plan of defunct Air Transport Manufacturing Co. in Sun Valley, Calif. The company ceased operations and sold its assets in 2008. http://www.dol.gov/ebsa/newsroom/2011/10-1802-SAN.html http://www.dol.gov/ebsa/newsroom/2011/10-1802-SAN.html The U.S. Department of Labor's EBSA today announced the availability of the 2010 Form M-1 annual report for multiple employer welfare arrangements. Plan administrators may use EBSA's online filing system to expedite processing of the form. http://www.dol.gov/ebsa/newsroom/2011/11-12-NAT.html http://www.dol.gov/ebsa/newsroom/2011/11-12-NAT.html The U.S. Department of Labor has obtained a consent judgment requiring Sylvestre Franc Inc., operator of a salon in Newton, Mass., as well as the company's owner and the plan trustee, to restore $33,918.73 in misused plan assets to the company's 401(k) plan. http://www.dol.gov/ebsa/newsroom/2011/10-1404-BOS.html http://www.dol.gov/ebsa/newsroom/2011/10-1404-BOS.html