May 18, 1999

Nationsbank And Investment Advisor Restore Assets To Polaroid Retirement Plan

Archived News Release — Caution: Information may be out of date.

The U.S. Department of Labor has obtained a settlement agreement providing for Nationsbank of Georgia, N.A., a subsidiary of Nationsbank of Charlotte, N.C., to distribute over $5 million in cash and stock to the accounts of certain participants covered by the Polaroid Employee Stock Ownership Plan.

Under the agreement, the bank will distribute the cash and stock to participants covered by the plan as of April 1989.

May 18, 1999

LABOR DEPARTMENT OBTAINS JUDGMENT BARRING FORT WAYNE TRUSTEE FROM PLAN MANAGEMENT

Archived News Release — Caution: Information may be out of date.

The trustee of a 401(k) plan for a Fort Wayne, Ind., company was permanently barred from managing any plan covered under federal pension law and an independent fiduciary was appointed to manage the company plan’s assets, in a consent order and judgement obtained by the U.S. Department of Labor.

May 17, 1999

ERISA ADVISORY COUNCIL’S WORKING GROUPS TO TAKE TESTIMONY ON 1999 STUDY ISSUES

Archived News Release — Caution: Information may be out of date.

The Secretary of Labor’s Advisory Committee on Employee Welfare and Pension Benefit Plans will hold meetings for its three working groups and its 106th full advisory council meeting on June 8 and 9. All sessions will be held at the Department of Labor’s Frances Perkins Building at 200 Constitution Avenue NW, Washington, DC, in Room N3437A-B.

May 14, 1999

News Release Archive: ESA Press Release: Sears Signs Child Labor Partnership Agreement with US Department of Labor

Archived News Release — Caution: Information may be out of date.

U.S. DEPARTMENT OF LABOR

Employment Standards Administration

ESA Press Release: Sears Signs Child Labor Partnership Agreement with US Department of Labor [05/14/1999]

May 12, 1999

Long Island Plan Trustees Plead Guilty To Pension Law Violations

Archived News Release — Caution: Information may be out of date.

Harold and Sandra Kaplan, trustees of two employee benefit plans for a Long Island company, pleaded guilty, respectively, to embezzling from the company’s defined benefit and 401(k) plans and for failing to maintain required documents for both plans, in violation of federal pension law. Their pleas were entered on May 7 before Judge Arthur D. Spatt in the U.S. District Court in Uniondale, N.Y.

May 12, 1999

LABOR DEPARTMENT GETS PARTIAL SETTLEMENT WITH FLORIDA RESORT PENSION FUND OFFICIALS

Archived News Release — Caution: Information may be out of date.

The U.S. Department of Labor and owners of G & L Resorts, Inc. in Ormond Beach, Fla.. agreed to an interim settlement removing them from their positions with the plan as partial resolution of a lawsuit alleging they misused pension plan assets to pay company expenses.

May 11, 1999

Executive Of Decatur, Ill. Firm To Guarantee Restitution To 401(K) Plan

Archived News Release — Caution: Information may be out of date.

The U. S. Department of Labor has obtained a consent judgment requiring the president of Jan-San Supply Company of Decatur, Ill., to guarantee repayment of $45,000 owed to the plan as restitution for violations committed in his capacity as a trustee of the company’s 401(k) plan.

May 11, 1999

LABOR DEPARTMENT SEEKS TO RECOUP 401(K) PLAN LOSSES FROM FORMER LOUIS ALLIS COMPANY PRESIDENT

Archived News Release — Caution: Information may be out of date.

The U.S. Department of Labor filed a adversary complaint asking the bankruptcy court in Milwaukee not to discharge any debt the former president of the bankrupt Louis Allis Co., Daniel E. Stetler, III, may have for any liability arising from his alleged violations of Title I of the Employee Retirement Income Security Act, in an effort to begin recouping monies owed to participants of the company-sponsored 401(k) plans.

May 5, 1999

LABOR DEPARTMENT SUES TRUSTEES OF ELECTRICAL WORKERS PENSION FUND

Archived News Release — Caution: Information may be out of date.

The U. S. Department of Labor has sued trustees of the National Electrical Benefit Fund in Rockville, Md., for making an imprudent loan of over $6 million in pension assets and for an imprudent purchase of shares in a limited partnership in 1992 and 1993.

May 3, 1999

LABOR DEPARTMENT SUES HARRIS COUNTY 401(K) PLAN OFFICIAL FOR FAILURE TO FORWARD EMPLOYEE CONTRIBUTIONS TO PLAN

Archived News Release — Caution: Information may be out of date.

The U. S. Department of Labor sued a Harris County, Tex. company and its 401(k) plan official for failing to forward to the plan employee contributions withheld from their paychecks, resulting in losses to the participants of $6,986.

Defendants in the case include the Pin Oak Medical/Surgical Associates, located in Houston, the company owner Dr. Lynn R. Gibbs, who also was the plan trustee, and the plan.

April 27, 1999

MASSACHUSETTS PENSION OFFICIALS AGREE TO RESTORE MISUSED EMPLOYEE PENSION PLAN ASSETS TO SETTLE U.S. LABOR DEPARTMENT LAWSUITS

Archived News Release — Caution: Information may be out of date.

The trustee of two Lexington, Massachusetts-based employee benefit plans and two officers of the now-defunct Auto Engineering Limited Partnership of Lexington have agreed to restore a total of $115,000 to the company’s employee stock ownership plan (ESOP) in order to conclude several lawsuits filed by the U.S. Department of Labor.

April 26, 1999

Labor Department Sues Minneapolis Company, Retirement Plan Official For Violating Federal Pension Law

Archived News Release — Caution: Information may be out of date.

The U.S. Department of Labor today sued two Minneapolis-based companies and their retirement plan official for self-dealing violations of federal pension law which resulted in losses to the plan’s participants.

April 26, 1999

LABOR DEPARTMENT SUES PENNSYLVANIA PLAN OFFICIALS FOR FAILING TO REMIT EMPLOYEE CONTRIBUTIONS TO 401(K) PLAN

Archived News Release — Caution: Information may be out of date.

The U. S. Department of Labor has sued now-defunct Ro-Cel Electronics Inc. of Pittsburgh and the trustees of the company’s 401(k) plan for improperly failing to timely deposit employee contributions into the plan.

Ro-Cel, an electronic alarm and security firm, created the plan in 1994 to accept voluntary employee contributions and employer contributions. Although Ro-Cel ceased operations in 1997, the plan has not been terminated.

April 23, 1999

LABOR DEPARTMENT SUES OHIO EXECUTIVE OVER MISUSE OF 401(K) CONTRIBUTIONS

Archived News Release — Caution: Information may be out of date.

The U.S. Department of Labor has sued the owner of Columbus, Ohio-based TennOhio Transportation Co. for failing to deposit employee contributions into investment accounts of the company's 401(k) plan and keeping plan money in accounts of TennOhio and related companies.

April 21, 1999

News Release Archive: ESA Press Release: Frito-lay Inc. Agrees to Pay $225,000 in Back Wages to 233 Minority Applicants for Discrimination Found at Louisiana Plant

Archived News Release — Caution: Information may be out of date.

U.S. DEPARTMENT OF LABOR

Employment Standards Administration

ESA Press Release: Frito-lay Inc. Agrees to Pay $225,000 in Back Wages to 233 Minority Applicants for Discrimination Found at Louisiana Plant [04/21/1999]

April 21, 1999

News Release Archive: ILAB Press Release: Labor Department Ends Review of Freedom of Association Complaint Against Canada

Archived News Release — Caution: Information may be out of date.

U.S. DEPARTMENT OF LABOR

Bureau of International Labor Affairs

ILAB Press Release: Labor Department Ends Review of Freedom of Association Complaint Against Canada [04/21/1999]

April 16, 1999

ERISA ADVISORY COUNCIL’S WORKING GROUPS TO TAKE TESTIMONY ON 1999 STUDY ISSUES

Archived News Release — Caution: Information may be out of date.

The Secretary of Labor’s Advisory Committee on Employee Welfare and Pension Benefit Plans will hold meetings for its three working groups on May 5 and 6. All sessions will be held at the Department of Labor’s Frances Perkins Building at 200 Constitution Avenue NW, Washington, DC, in Room N3437A-B.

April 8, 1999

ADVISORY COMMITTEE ON NEGOTIATED RULEMAKING TO HOLD PUBLIC MEETINGS

Archived News Release — Caution: Information may be out of date.

The U. S. Department of Labor’s ERISA Section 3(40) Negotiated Rulemaking Advisory Committee will hold public meetings on April 20 and 21 to continue its discussion of the process and criteria to be used in developing a proposed rule on whether an employee benefit plan is established or maintained under a collective bargaining agreement.

April 7, 1999

COURT APPOINTS INDEPENDENT TRUSTEE TO OPERATE FLORIDA 401(K) PLAN

Archived News Release — Caution: Information may be out of date.

A Federal District Court in Miami, Fla. has appointed an independent trustee to manage and terminate the 401(k) plan of Hollywood, Fla.-based Carolina Fitness Equipment, Inc. under a settlement agreement obtained by the U. S. Department of Labor.