November 1, 2016

US Labor Department releases advance copies of 2016 Form 5500 Annual Return/Report

WASHINGTON – The U.S. Department of Labor’s Employee Benefits Security Administration, the Internal Revenue Service, and the Pension Benefit Guaranty Corporation today released advance informational copies of the 2016 Form 5500 annual return/report and related instructions.

November 1, 2016

US Department of Labor secures $866K judgment against fiduciaries of the California Pacific Bank’s employee benefit plan in San Francisco

SAN FRANCISCO – The U.S. Department of Labor has secured a judgment against San Francisco-based California Pacific Bank and four individual fiduciaries, requiring them to pay $866,840 in retirement benefits, plus interest, to employees who participated in the company’s stock ownership benefits plan.

October 27, 2016

US Labor Department issues compliance guidance for employee benefit plans in wake of Hurricane Matthew, related disruptions

WASHINGTON – In light of the devastation following Hurricane Matthew, the U.S. Department of Labor’s Assistant Secretary of Labor for Employee Benefits Security Phyllis C. Borzi announced today an update on compliance with employee benefit plan rules for those adversely impacted.

October 27, 2016

US Labor Department resolves lawsuit to restore funds owed to Dell Inc. retirement plan in Monticello, Minnesota

Date of Action: Oct. 25, 2016

Type of Action: Employee Retirement Income Security Act Lawsuit

Names of Defendants: Todd Olson, Dell Inc., Dell Inc. Simple IRA Plan

October 19, 2016

US Labor Department sues Sentry Equipment Erector’s ESOP fiduciaries for failing to protect plan assets during multi-million dollar purchase of company

WASHINGTON – The U.S. Department of Labor has filed a lawsuit against the fiduciaries of a Virginia-based employee stock ownership plan, alleging the defendants failed to protect the assets of the plan as it purchased nearly $21 million in company shares from the president of Sentry Equipment Erectors Inc. who was also a trustee of the ESOP.

October 4, 2016

US Department of Labor dismisses lawsuit against Brogue, Pennsylvania, construction contractor after company restores $149K to employee 401(k) plan

Date of Action: Oct. 3, 2016

Type of Action: Order of Dismissal

Name(s) of Defendants: Tarry Bratton
B.C. Inc.
401(k) employer-sponsored retirement savings plan

September 28, 2016

Department of Labor files complaint to recover more than $29K in losses to the Weinhagen Tire Co. Inc. 401(k) Plan

Date of Action: Sept. 27, 2016

Type of Action:  Filing of Complaint

Name(s) of Defendant: Michael E. Weinhagen, Weinhagen Tire Co. Inc., Weinhagen Tire Co. Inc. 401(k) Plan

Allegations: Michael E. Weinhagen is the sole owner and president of St. Paul, Minnesota-based Weinhagen Tire Co. and the fiduciary to the Weinhagen Tire Co. Inc. 401(k) Plan. 

September 26, 2016

US Labor Department reaches settlement with Sierra Pacific Industries’ Health Benefits Plan

WASHINGTON – Fiduciaries of a health plan covering employees of a major western lumber producer have agreed to settle claims that they did not comply with the Affordable Care Act and the Employee Retirement Income Security Act when providing healthcare benefits and deciding worker claims for healthcare benefits.

September 22, 2016

US Labor Department sues Exton electrical equipment installation company to restore $166K to employees’ 401(k) retirement plan

Date of Action: Sept. 22, 2016

Type of Action: Complaint

Name(s) of Defendants: Steven Keares Inc.
Harry Keares
Steven Keares Inc. 401(k) Retirement Plan

September 21, 2016

US Labor Department sues Bridgeport Health Care Center Inc., executive for diverting nursing home retirement plan assets improperly

HARTFORD, Conn. – The U.S. Department of Labor has sued a Bridgeport nursing home and its chief officer alleging that they diverted millions of dollars from the company’s retirement plan improperly to a religious corporation and to themselves. 

September 20, 2016

US Department of Labor seeks independent fiduciary for terminated Homestead Physicians P.A. 401(k) Plan in Florida

Date of Action: Sept. 16, 2016

Type of Action: Complaint

Name of Defendants: Homestead Physicians P.A.
Lorn Leitman
Homestead Physicians P.A. 401(k) Plan

September 12, 2016

Department of Labor files complaint to distribute assets of Mariah Industries Inc. 401(k) Profit Sharing Plan

Date of Action: Aug. 26, 2016

Type of Action: Filing of Complaint

Name(s) of Defendant: Christina Samone DeLaGarza, Mariah Industries Inc., Mariah Industries Inc. 401(k) Profit Sharing Plan.

September 12, 2016

US Labor Department issues compliance guidance for employee benefit plans in wake of the Louisiana storms, flooding and related disruptions

WASHINGTON – In light of the devastation following recent storms and flooding in Louisiana, the U.S. Department of Labor’s Assistant Secretary of Labor for Employee Benefits Security Phyllis C. Borzi announced today an update on compliance with employee benefit plan rules for those adversely impacted in the state since Aug. 11, 2016.

August 30, 2016

US Labor Department obtains default judgment to restore more than $200K to 401(k) plan of defunct Maryland medical research company

Date of Action: Aug. 29, 2016     

Type of Action: Default judgment

Name(s) of Defendant(s): Global Research Services LLC, Vice President of Finance Julie E. Garrett, and Global Research Services LLC 401(k) Plan

August 25, 2016

US Department of Labor announces final rule on state payroll deduction IRA accounts

WASHINGTON – One third of all workers do not have access to retirement savings plans through their employer. That’s why in every budget since taking office, President Obama has proposed federal legislation to automatically enroll workers in an Individual Retirement Account if they don’t have access to a workplace savings arrangement. In the absence of congressional action, several states have made strides in creating savings opportunities for residents.

August 25, 2016

US Labor Department sues Florida outsource company, fiduciaries, service providers to restore $1.5M to health, welfare arrangement

Date of Action: Aug. 11, 2016

Type of Action: Complaint

Name of Defendants: Direct HR Services Inc.
Commerce Benefits Group Agency Inc.
HealthSmart Benefit Solutions Inc.
Suzanne Burrow
Jason Syrek

August 18, 2016

US Labor Department sues Blue Bell, Pennsylvania, employee benefit plan service provider for mismanaging multiple 401(k) plans

Date of Action: Aug. 15, 2016

Type of Action: Complaint

Name(s) of Defendants: A. Kenneth Belanger
Jo-Ann Belanger
Belanger and Co.  Inc.

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

August 11, 2016

US Labor Department obtains default judgment against former fiduciary of Sommet Group Employee Benefit Plan in Tennessee

Date of Action: July 15, 2016

Type of Action: Default judgment

Name of Defendant(s): Sommet Group LLC
L. Brian Whitfield
D. Edwin Todd
Sommet Group LLC Employee Benefit Plan