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Archived News Release — Caution: Information may be out of date.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