July 14, 2016

US Labor Department solicits nominations for 2017 ERISA Advisory Council

WASHINGTON – The U.S. Department of Labor’s Employee Benefits Security Administration is soliciting nominations to fill five, three-year vacancies on the Advisory Council on Employee Welfare and Pension Benefit Plans, also known as the ERISA Advisory Council. The deadline to submit nominations is Aug 1.

July 11, 2016

US Labor Department releases proposal to improve, modernize Form 5500 Annual Return/Report filed by employee benefit plans

WASHINGTON – The U.S. Department of Labor’s Employee Benefits Security Administration, the Internal Revenue Service, and the Pension Benefit Guaranty Corporation are seeking public comments on proposed revisions to modernize and improve the Form 5500 Annual Return/Report filed by private-sector employee benefit plans.

June 29, 2016

Labor Department obtains consent judgment to appoint an independent fiduciary for abandoned retirement plan in Columbia, South Carolina

Date of Action: June 2, 2016
June 13, 2016

Type of Action: Complaint, consent judgment and order

Name of Defendants: Greater Columbia OB-GYN P.A.
Estate of Dr. Susan Keeshan

June 28, 2016

US Department of Labor files suit requiring fiduciaries to restore $5.9M in losses to Triple T Transport Employee Stock Ownership Plan

COLUMBUS, Ohio – A federal lawsuit alleges action taken by fiduciaries resulted in losses exceeding $5.9 million to the Triple T Transport Inc. Employee Stock Ownership Plan, directly affecting the retirement savings funds of employees of the Lewis Center, Ohio, company and violating the Employee Retirement Income Security Act.

June 14, 2016

US Labor Department sues president of defunct West Berlin land improvement company to make $138K debt owed to 401(k) non-dischargeable

Date of Action: June 13, 2016

Type of Action: Complaint

Name(s) of Defendants: William P. Bowman

June 8, 2016

US Labor Department obtains judgment, order against The Children’s Place, employee medical benefit plan administrator for restitution

Date of action: June 1, 2016

Type of action: Consent Judgment and Order

Name of Defendants: The Children’s Place Inc.; The Children’s Place Inc. Welfare Benefit Plan; Hendrik Johannes Lamprecht

June 2, 2016

US Labor Department obtains judgment to restore nearly $20K to 401(k) plan of contractor based in Jessup, Maryland

Date of Action: May 31, 2016

Name(s) of Defendants:  Brian Hicks, Trojan Horse LTD; Capitol Expressways Inc.; Glen Burnie Hauling Inc.; BDH Logistics LLC; and Trojan Horse LTD 401(k) plan.

Allegations: Based on an investigation conducted by the U.S. Department of Labor’s Employee Benefits Security Administration, the Secretary of Labor filed a complaint alleging:

May 26, 2016

ERISA Advisory Council to discuss cybersecurity, other benefit plan issues at June 7-9 meeting in Washington

WASHINGTON – The Advisory Council on Employee Welfare and Pension Benefit Plans, also known as the ERISA Advisory Council, will meet at the U.S. Department of Labor’s headquarters on June 7-9, 2016, to hear testimony from invited witnesses and to receive an update from the Employee Benefits Security Administration. The council has scheduled the EBSA update tentatively for the morning of June 9. The department is located at 200 Constitution Ave.

May 26, 2016

US Labor Department’s actions recover $7.1M for workers in AIT Laboratories Employee Stock Ownership Plan

INDIANAPOLIS – The U.S. Department of Labor’s Employee Benefits Security Administration has reached a settlement restoring an additional $3.47 million directly to AIT Laboratories Employee Stock Ownership Plan, for losses associated with the plan’s 2009 purchase of overpriced company stock.

May 24, 2016

Bankruptcy court declares $27k in debts owed to Rose Printing Services employee benefit plans non-dischargeable

Date of Action: May 23, 2016

Type of Action:  Default Judgment

Name of Defendant: William Robin Rose is the fiduciary to the Rose Printing Services Inc. Employees 401(k) Retirement Savings Plan, Rose Printing Services Inc. Employees Health Plan and Rose Printing Services Inc. Employees Dental Plan.

May 23, 2016

US Labor Department files lawsuit to restore funds owed to Demmy Sand & Gravel Retirement Savings Plan

Date of Action: May 23, 2016

Type of Action: Employee Retirement Income Security Act Lawsuit

Names of Defendants: Amy Demmy Rapp, Demmy Sand & Gravel LLC, Demmy Sand & Gravel LLC Retirement Savings Plan

May 17, 2016

Former Bridgeport attorney incarcerated for failing to comply with federal judge’s orders in employee benefit plan diversion scheme case

PHILADELPHIA – Acting on a United States district court judge’s order, federal marshals took John J. Koresko V, a disbarred attorney and former employee benefit plan administrator, into custody on May 6, 2016, after Koresko failed to transfer $1.68 million in assets in contempt of an earlier court order in a case involving violations of the Employee Retirement Income Security Act.

May 13, 2016

Department sues Brogue, Pennsylvania, construction contractor to recover unpaid contributions to employees’ 401(k) profit-sharing plan

Date of Action: April 29, 2016

Type of Action: Complaint

Name(s) of Defendants: Tarry Bratton, B.C. Inc., B.C. Inc. 401(k) Profit Sharing Plan

May 9, 2016

US Department of Labor files lawsuit to recover retirement plan assets for 19 participants of Kesco Southeast Inc. in Cartersville, Georgia

Date of Action:  May 02, 2016

Type of Action: Complaint

Name of Defendants: Kesco Southeast Inc., Dean Conn, Andrea Rozelle, and Kesco Southeast Inc. 401(k) Plan

May 5, 2016

U.S. Department of Labor investigation results in more than $23K in losses being restored to Bonner & Borhart SIMPLE IRA Plan

Date of Action: May 5, 2016

Type of Action:  Consent order and judgment

Names of Defendant: John Bonner, Bonner & Borhart LLP, Bonner & Borhart LLP SIMPLE IRA Plan

May 2, 2016

US Labor Department files lawsuit to appoint independent fiduciary to administer employee benefit plan of defunct health care company

Date of Action: April 29, 2016

Type of Action: Employee Retirement Income Security Act Lawsuit

Names of Defendants: Shirley T. Sherrod, Leroy Johnson, Shirley T. Sherrod M.D., P.C., Target Pension Plan

May 2, 2016

Labor Department files suit to appoint independent fiduciary to distribute profit-sharing plan assets of defunct New Jersey health food supplier

Date of Action: April 26, 2016

Name(s) of Defendants: Island Organics Profit-Sharing Plan
Bank of America

Allegations:  An investigation conducted by the U.S. Department of Labor’s Employee Benefits Security Administration found the fiduciary of a profit-sharing plan of now-defunct Quality Botanical Ingredients Inc. failed to terminate the plan formally when the company ceased all business operations in December 2002.

April 29, 2016

US Labor Department, Invesco Trust in Atlanta reach settlement to compensate investors for undisclosed losses

WASHINGTON – The U.S. Department of Labor’s Employee Benefits Security Administration has reached a settlement agreement with a subsidiary of Invesco Ltd., an Atlanta-based investment management firm.

Invesco Trust Company agreed to pay a total of $10.27 million to settle the department's claims that they violated the Employee Retirement Income Security Act.

April 29, 2016

Court declares unremitted employee contributions owed to benefit plan of Clarks Summit company non-dischargeable after defendant’s bankruptcy

Date of Action: April 4, 2016

Name(s) of Defendant(s): Scott Louis Slocum; Dalton Mechanical SIMPLE IRA Plan

Allegations: Based on an investigation by the U.S. Department of Labor’s Employee Benefits Security Administration, the Secretary of Labor obtained a default judgment based on the following:

April 26, 2016

US Labor Department files lawsuit to appoint independent fiduciary to administer employee benefit plan of defunct health care company

Date of Action: April 26, 2016

Type of Action: Employee Retirement Income Security Act Lawsuit

Names of Defendants: Lori Jo Mueller, Edelweiss 401(K) Plan