March 11, 1998
Santa Ana Firm And Owner Agree To Pay $220,000 Restitution To Pension Plan
Archived News Release — Caution: Information may be out of date.
The U. S. Department of Labor has obtained a settlement with Sherwood Shutter Corp. of Santa Ana, and its owner, Michael L. Thibodeau, to repay over $220,000 plus interest owed to the company’s profit sharing plan.
The profit sharing plan, created in 1986, covers 178 participants and had $320,748 in assets as of April 30, 1995. Thibodeau serves as a plan trustee and the company is administrator of the plan.