October 16, 2008

U.S. Department of Labor updates fiduciary guidance on exercising shareholder rights and investing in economically targeted investments

Archived News Release — Caution: Information may be out of date.

Washington – The U.S. Department of Labor today announced the issuance of new guidance under the Employee Retirement Income Security Act (ERISA) clarifying the obligations of plan fiduciaries when considering shareholder rights and investments in economically targeted investments. The guidance is being issued in the form of two interpretive bulletins detailed below.

October 9, 2008

U.S. Labor Department obtains consent judgment against president of Control Pak International over misuse of $19,000 in 401(k) assets

Archived News Release — Caution: Information may be out of date.

Fenton, Michigan – The U.S. Department of Labor has obtained a consent judgment against the president of Control Pak International in Fenton, providing restoration of $19,165 to the company’s 401(k) savings plan as restitution for misuse of 401(k) assets in violation of the Employee Retirement Income Security Act (ERISA).

October 9, 2008

U.S. Labor Department seeks comments on genetic nondiscrimination requirements

Archived News Release — Caution: Information may be out of date.

Washington – The U.S. Department of Labor’s Employee Benefits Security Administration (EBSA) today announced publication of a “request for information” (RFI) to assist the department in implementing the requirements under the Genetic Information Nondiscrimination Act of 2008 (GINA) for group health plans and health insurance issuers. The RFI is to be published in the October 10, 2008 Federal Register.

October 9, 2008

U.S. Labor Department to hold hearing on investment advice proposals

Archived News Release — Caution: Information may be out of date.

Washington— The U. S. Department of Labor’s Employee Benefits Security Administration (EBSA) will hold a public hearing October 21, 2008, to hear testimony on a proposed regulation and class exemption for the provision of investment advice. The hearing will begin at 8:00 a.m. in Room S-3215 A-B, 200 Constitution Avenue, NW in Washington, DC.

October 8, 2008

U.S. Labor Department sues defunct Charlotte, North Carolina employee staffing company to protect participants of 401(k) plan

Archived News Release — Caution: Information may be out of date.

Atlanta – The U.S. Department of Labor has sued People Unlimited Consulting Inc. and two executives of the Charlotte, North Carolina, employee staffing company for violating the Employee Retirement Income Security Act (ERISA) when they failed to distribute $115,589 in 401(k) assets to eligible plan participants.

October 8, 2008

U.S. Department of Labor obtains consent decree appointing independent fiduciary of 401(k) plan of defunct Colorado company

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

Denver – The U.S. Department of Labor has obtained a consent order appointing Midwest Fiduciary Services to serve as the independent fiduciary of the abandoned 401(k) plan of defunct Absolute Control Systems Inc. in Golden, Colorado.

October 6, 2008

U.S. Department of Labor issues final rules under Pension Protection Act on missing pension beneficiaries, annuities and cross trading

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

WASHINGTON — The U.S. Department of Labor has announced final rules pertaining to the requirements of the Pension Protection Act of 2006 (PPA). The new rules relate to distribution of 401(k) benefits for missing nonspouse beneficiaries in terminated plans, selection of annuity providers and cross trading of securities by plans governed by the Employee Retirement Income Security Act (ERISA).

October 1, 2008

Owner of Columbus business pleads guilty to violating Employee Retirement Income Security Act

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

Columbus, Ohio — The owner of Laser Saver Inc. in Columbus today pleaded guilty in U.S. district court to willful failure to file with the U.S. Department of Labor annual financial reports for the company’s 401(k) retirement plan that are required by the Employee Retirement Income Security Act.

September 30, 2008

U.S. Labor Department sues to appoint independent fiduciary for 401(k) plan abandoned by Kennebunk, Maine, company

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

Portland, Maine – The U.S. Department of Labor has filed a lawsuit in the U.S. District Court for the District of Maine seeking appointment of an independent fiduciary to oversee the abandoned 401(k) plan of TRITECH Information Strategies Inc., formerly of Kennebunk, Maine.

September 30, 2008

U.S. Labor Department to sponsor free compliance assistance seminar for retirement plan fiduciaries in Pittsburgh

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

Pittsburgh – The U.S. Department of Labor’s Employee Benefits Security Administration (EBSA) will sponsor “Getting It Right – Know Your Fiduciary Responsibilities,” a free compliance assistance seminar, on October 30 at the Westin Convention Center Hotel in Pittsburgh.

September 23, 2008

U.S. Labor Department sues Fairfield, Connecticut employer to restore funds to company 401(k) plan

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

New Haven, Connecticut – The U.S. Department of Labor has sued the owner and operator of Fairfield Podiatry Associates LLC of Fairfield, Connecticut, seeking restoration of funds to the company’s 401(k) plan.

September 23, 2008

U.S. Labor Department sues First Primary Mortgage Inc. and its trustee for failure to administer employee 401(k) plan

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

Middleburg Heights, Ohio – The U.S. Department of Labor has sued First Primary Mortgage Inc. of Middleburg Heights, and its owner and the trustee of the First Primary Mortgage Inc. 401(k) Plan, for failure to properly administer the company plan in violation of the Employee Retirement Income Security Act (ERISA).

September 22, 2008

U.S. Labor Department announces new online tools for workers and plan administrators

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

Washington – The U.S. Department of Labor’s Employee Benefits Security Administration (EBSA) today announced new online tools to give workers access to financial information and an improved calculator that makes it easier for employers and plan administrators to pay online civil penalties for delinquent filings of annual reports under the agency’s Delinquent Filer Voluntary Compliance Program (DFVCP).

September 22, 2008

U.S. Department of Labor sues defunct Wyckoff, N.J., company to protect participants of employee profit-sharing plan

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

Wyckoff, N.J. — The U.S. Labor Department has sued to obtain appointment of an independent fiduciary to oversee the employee profit-sharing plan of Jules Prosnitz & Sons Inc., formerly doing business as “Prozy’s Army-Navy Store,” a defunct company located in Wyckoff.

September 22, 2008

Boston company and officers ordered to restore nearly $73,000 in misused funds to company 401(k) plan to resolve U.S. Labor Department lawsuit

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

Boston – A federal judge has ordered G. Conway Inc. of Boston and corporate officers Gerard D. Conway and Robert Conway to repay $72,803 to the company’s 401(k) plan to resolve a lawsuit filed by the U.S. Department of Labor that alleged violations of the Employee Retirement Income Security Act (ERISA).

September 22, 2008

U.S. Department of Labor sues executive of defunct Minneapolis company to protect participants of abandoned plan

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

Minneapolis – The U.S. Department of Labor has sued to appoint an independent fiduciary to administer and terminate the 401(k) plan of KSM Holding Corp., a defunct Minneapolis company.

September 22, 2008

U.S. Labor Department extends annual reports deadline after hurricane hits Texas and Louisiana

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

September 18, 2008

U.S. Labor Department obtains court-appointed independent fiduciary for 401(k) plan abandoned by Long Island, N.Y., company

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

New York – The U.S. Department of Labor has obtained a court order appointing an independent fiduciary to manage the abandoned 401(k) plan of the defunct Freedom Security Systems Inc. of New Hyde Park, New York.

September 18, 2008

U.S. Labor Department Web site assists hurricane victims in locating employee benefit plan sponsors

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

September 17, 2008

U.S. Department of Labor official testifies before Senate committee on fee disclosures for 401(k)-type plans

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