November 29, 1999

Labor Department Proposes Interest Free Loans And Credit For Plan Y2k Problems

Archived News Release — Caution: Information may be out of date.

The U. S. Department of Labor’s Pension and Welfare Benefits Administration (PWBA) today proposed an amendment to an existing class exemption which would allow plans to receive interest free loans and extensions of credit from related parties to pay for unanticipated Y2K computer problems. Since 1998, PWBA has been providing guidance to the plan community in an effort to help them prepare for their Y2K contingency planning.

November 23, 1999

Delaware Pension Plan Trustees Sued For Making Over $450,000 In Improper Plan Loans

Archived News Release — Caution: Information may be out of date.

The U. S. Department of Labor has sued the trustees of the John E. Healy & Sons Pension Plan of New Castle, Del. for making over $450,000 in improper loans with plan money.

November 23, 1999

Alabama Company To Pay $9,000 To Its 401(K) Plan Participants

Archived News Release — Caution: Information may be out of date.

The U.S. Labor Department has obtained a partial settlement in its case involving an Anniston, Ala. non-profit corporation’s 401(k) profit sharing plan.

The action will result in $9,000 being recouped for the plan and will resolve a restitution issue concerning employee contributions of $8,331.82 not remitted to the plan for the period of April 30, 1997 to June 30, 1997, as well as interest which would have accrued.

November 18, 1999

Ohio Man Pleads Guilty To Pension Embezzlement

Archived News Release — Caution: Information may be out of date.

An executive of Columbus, Ohio-based Buckeye Technical Services, Inc. pleaded guilty to one count of embezzling $3,241 from the company’s 401(k) plan, according to documents filed in federal court today.

November 15, 1999

Proposed National Medical Support Notice To Cover More American Children

Archived News Release — Caution: Information may be out of date.

Today the U.S. Department of Labor is proposing rules that would implement provisions of the Child Support Performance and Incentive Act of 1998 that are intended to help children gain access to coverage under their noncustodial parents’ employer-based group health plans.

November 15, 1999

Labor Department Sues Florida Company Official For Failing To Forward Employee Contributions To 401(K) Plan

Archived News Release — Caution: Information may be out of date.

The U.S. Department of Labor has sued a Florida pension plan official for deducting but not forwarding $84,521 from employees’ paychecks to the company-sponsored 401(k) savings and investment plan.

November 9, 1999

Labor Department, IRS Extend Filing Time For Annual Reports Due To Hurricanes Floyd And Irene

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

The U.S. Department of Labor’s Pension and Welfare Benefits Administration and Internal Revenue Service today extended the deadline for filing annual returns/reports (Form 5500 series) due to Hurricanes Floyd and Irene.

The extension applies to employee benefit plans, banks and insurance companies located in the counties designated by the Federal Emergency Management Agency as federal disaster areas because of the hurricanes.

November 2, 1999

Seafarers Union In Puerto Rico Sued For Retaining Welfare Contributions

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

The U. S. Department of Labor has obtained a consent order requiring the Seafarers International Union of Puerto Rico, the Carribbean and Latin America to repay $374,729, plus interest, to its welfare plan as repayment for improperly retained employer contributions owed to the welfare plan.

November 1, 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 November 16 and 17 to continue discussions on developing a proposed rule on whether an employee benefit plan is established or maintained under a collective bargaining agreement.

October 29, 1999

Labor Department Sues Albuquerque Officials For Violations Affecting Employee Stock Ownership Plan

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

The U. S. Department of Labor has sued Albuquerque, N.M.-based Reams Communications, Inc. doing business as ValuLine Long Distance, and its officials for a series of prohibited transactions that have reduced the value of the company-sponsored employee stock ownership plan (ESOP).

The ESOP was established by Reams Communications in January 1, 1992. It had 102 participants and $1,093,631 in assets as of Dec. 31, 1995.

October 28, 1999

Albuquerque Company Ordered To Repay Its 401(K) Plan

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

A New Mexico State Court ordered Albuquerque-based R.B. French Fire & Sound, Inc. to pay restitution of employee contributions which the company failed to remit to the company’s 401(k) account and serve 18 months probation.

October 27, 1999

Minnesota Trustees Ordered To Correct ERISA Plan Violations Under Consent Order And Judgment

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

Thomas Buchanan, William Buchanan, and John Buchanan, trustees of the Northern-Minnesota Wisconsin Area Health Care Retirement Plans for union and non-union employees of Donjer, Inc. and Buchanan Nursing Home, Inc. (BNH) in Duluth, Minn., were ordered to terminate the plans and make distribution of plan assets to plan participants under a consent order and judgment reached with the U.S. Department of Labor.

October 26, 1999

Labor Department Obtains Court Order Restoring Employee Contributions To Wisconsin Pension Plan

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

The owners of Team Tooling, Inc. in Fond du Lac, Wis., were ordered to make restitution to the plan for failure to remit voluntary employee contributions to the company’s retirement plan and were permanently barred from serving in positions of trust to any plan governed by federal pension law, as part of a consent order and judgment obtained by the U.S. Department of Labor.

October 4, 1999

LABOR DEPT. REACHES SETTLEMENT WITH L.A. LAW FIRM, PARTNERS FOR PENSION VIOLATIONS

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

October 4, 1999

Defunct Georgia Lighting Company And Owner Sued For Abusing 401(K) And Health Assets

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

Georgian Art Lighting Designs, Inc. of Lawrenceville, Ga., and its owner have been sued by the U. S. Department of Labor for failing to deposit $48,988 of employee contributions into the company’s 401(k) plans and medical plan accounts.

September 22, 1999

ERISA Advisory Council's Working Groups To Meet 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 Oct. 5 and 6. All sessions will be held in Room N3437 A-B at the Department of Labor’s Frances Perkins Building at 200 Constitution Avenue NW, Washington, DC.

September 20, 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 October 13 and 14 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.

September 16, 1999

New York Pension Fund Trustees Agree To Reimburse Plans

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

The U.S. Department of Labor reached a settlement in three related lawsuits with trustees of three pension fund plans, based in Utica and Massena, which result in $3 million being repaid to the plans.

The defendants in the three separate lawsuits, which were filed concurrently June 12, 1998, in the Federal District Court in Binghamton, and the amounts they agreed to pay the pension plans are:

September 15, 1999

Waterport, New York, Man Pleads Guilty To Federal Criminal Charges Regarding The Misuse Of Employee Pension Funds

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

William David Dickinson of Waterport, New York, has agreed to plead guilty to a one count criminal information regarding the misuse of employee pension funds in violation of the Employee Retirement Income Security Act (ERISA), which is administered by the U.S. Department of Labor.

September 9, 1999

New York Bank Sued By U.S. Department Of Labor To Recover Losses To Employee Stock Ownership Plan For Which Bank Was Trustee

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

Marine Midland Bank, based in Buffalo, New York, has been sued by the U.S. Department of Labor to recover losses to a North Tonawanda, New York, employee stock ownership plan for which the bank had served as Trustee.