EBSA News Brief
Office of Public Affairs Philadelphia PA
For Immediate Release: January 27, 2014
Contact: Joanna Hawkins or Leni Uddyback-Forston
Phone: (215) 861-5101 or (215) 861-5102
E-mail: firstname.lastname@example.org or email@example.com
Release Number: EBSA 14-005
Perez v. Raymond Orsuto, et. al.
US Labor Department obtains consent judgment restoring more than $51,000 to the
401(k) plan of defunct Marlton, NJ, beauty salon and spa
Date of Action: Jan. 17, 2014
Name(s) of Defendant(s): Raymond Orsuto; 800 West Salon Inc.; 800 West Salon Inc. Retirement Savings Plan
Allegations: The department filed a complaint against Raymond Orsuto, 800 West Salon Inc. and the 800 West Salon Inc. Retirement Savings Plan on Aug. 13, 2013, alleging that Orsuto and the company failed to ensure employee contributions to the plan were remitted and remitted on a timely basis from 2007 through 2009.
Resolution: A consent judgment approved by the United States District Court for the District of New Jersey requires Orsuto and the company to pay $51,756.66, representing unremitted 401(k) contributions and lost opportunity costs associated with late and unremitted contributions. The judgment appoints M. Larry Lefoldt of Ridgeland, Miss., as the independent fiduciary of the plan, requires the defendants to pay the estimated costs of the independent fiduciary and enjoins them from acting as fiduciaries or service providers to any ERISA-covered plans in the future.
Court: United States District Court for the District of New Jersey
Docket Number: 1:13-cv-04959-JBS-KMW
U.S. Department of Labor materials are accessible at www.dol.gov. The information above is available in large print, Braille, audio tape or disc from the COAST office upon request by calling (202) 693-7828 or TTY (202) 693-7755.