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he U.S. Department of Labor filed a lawsuit against the owner and trustees of Building Services Unlimited, Inc., in Louisville, Ky., for failing to make requested contributions to the company’s retirement plan and paying more than fair market value for the stock contributed to the employee stock ownership plan.

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For more information call: (202) 219-8211

The U. S. Department of Labor today sued Time Warner Inc., Time Inc. and subsidiaries of Time Inc. and officials of nine corporate pension and health plans for wrongly denying coverage by the plans to hundreds of employees. The workers were misclassified as independent contractors or temporary employees and thus were denied coverage.

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The U. S. Department of Labor has obtained a consent judgment requiring Hull Corp. and a trustee of its employee stock ownership plan (ESOP) to pay $541,667 in restitution to the plan and to pay civil monetary penalties to the federal government for violating federal pension law.

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The U. S. Department of Labor has proposed broadening the scope of two class exemptions allowing individual retirement accounts (IRAs) or Keogh pension plans to get free or low cost brokerage or banking services

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The U.S. Department of Labor has obtained a consent order and judgment requiring three corporations and three trustees of the Nomali, Inc. Employees 401(k) plan in Brownsville, Tex., to repay $87,318.00 to its plan participants and beneficiaries for failure to charge the full market value on rental property and land that they authorized the plan to lease.

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The U. S. Department of Labor has obtained a consent judgment against the trustee of a pension and health plan of a Hempstead, New York community service organization for mismanaging plan assets

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The U.S. Department of Labor’s Pension and Welfare Benefits Administration (PWBA) has awarded two contracts to national computer firms to competitively develop its new Employee Retirement Income Security Act (ERISA) Filing Acceptance System -- known as EFAST.

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The U. S. Department of Labor has obtained a consent order and judgment that requires Richard May of Arlington Heights, Ill., to pay more than $14,000 to nine employee benefit plans and permanently bars him from servicing any employee benefit plan governed by federal pension law, except where he is a participant in the ERISA-covered plans of his employer.

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Miletus Associates Inc. of Albuquerque, N.M. and its president agreed to fully reimburse the company’s 401(k) plan for all losses under a consent order obtained by the U. S. Department of Labor.

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The owner of Dallas-based Programmed for Success today was indicted by a Dallas County grand jury for misappropriating $4,044 in pension contributions owed to the company’s retirement plan.

The company is a computer programming services contractor which sponsored a salary reduction simplified employee pension plan (SARSEP). The SARSEP is governed by the Employee Retirement Income Security Act (ERISA).

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The U. S. Department of Labor today announced appointment of the members of the newly created Negotiated Rulemaking Advisory Committee. The advisory committee was created by the department’s Pension and Welfare Benefits Administration (PWBA) to develop a proposed rule that would establish criteria and a process for determining when an employee benefit plan is established or maintained under a collective bargaining agreement.

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For more information call: (202) 219-8211

The U.S. Department of Labor today announced a new regulation which will ensure patients a timely, fair internal review when they have a grievance against their health plan and an expedited review for urgent claims.

The proposed regulation, published Wednesday in the Federal Register:

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The U. S. Department of Labor has obtained a judgment against a former investment advisor for executing speculative securities investments and “churning” of the account of the Bradford Sales Co. employee stock ownership plan (ESOP) located in Charlotte, NC. The defendant George E. Brooks was permanently barred from serving as a plan fiduciary to any employer-sponsored plans under the aegis of the Employee Retirement Income Security Act (ERISA).

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For more information call: (202) 219-8211

Businesses, governments and the media must all work to educate the public about saving for retirement, concludes a report issued today by Labor Secretary Alexis M. Herman. Americans are not saving enough and they need more information to encourage them to do so, according to the report of the first National Summit on Retirement Savings, which was held June 4 - 5.

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The U. S. Department of Labor has obtained a temporary restraining order freezing the assets of Novato, California-based Interstate Services, Inc. (ISI), Thorndyke International, Inc. (TI), and numerous other fiduciaries and service providers to health plans operated by ISI after more than $ 1 million in health benefit assets were diverted to them and others affiliated with a health care scheme known as The ERISA Advantage program.

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For more information call: (202) 219-8921

The U.S. Department of Labor's Pension and Welfare Benefits Administration (PWBA) today re-affirmed the need for employee benefit plan administrators and service providers to act to protect workers' benefits against the looming year 2000 (Y2K) software problem.

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The U.S. Department of Labor today settled a lawsuit on Monday, July 20, with Investment Advisers, Inc. (IAI), a Minneapolis-based investment management company, regarding inappropriate fees paid to its affiliate, IAI Securities (IAIS), in connection with investment management services provided to certain employee benefit plans and to its own in- house pension and profit sharing plans.

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For more information call: (202) 219-8921

The three working groups formed this year by the Advisory Council on Employee Welfare and Pension Benefit Plans will hold public meetings Aug. 11 and 12. All sessions will take place in Conference Room N-4437 C&D at the U.S. Department of Labor's Frances Perkins Building, 200 Constitution Avenue NW, Washington, DC.

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For more information call: (202) 219-8921

Secretary of Labor Alexis M. Herman today delegated the duties of the Assistant Secretary of Labor for the Pension and Welfare Benefits Administration (PWBA) to Meredith Miller. Miller, who has served as PWBA's Deputy Assistant Secretary for Policy for the last 5 years, will carry out the duties of Assistant Secretary until a permanent candidate is appointed to fill the post.