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Judge orders Christina Metzler to restore more than $44,000 to Westside Cabinet & Millwork SIMPLE IRA Plan in Madison, Wis.
Date of Action: Nov. 8, 2011
Action: Consent order and judgment
Names of Defendants: Christina Metzler, Westside Cabinet & Millwork Savings Incentive Match Plan for Employees Individual Retirement Accounts Plan located in Madison, Wis.
Allegations: Christina Metzler was the treasurer of Westside Cabinet and Millwork Inc., and fiduciary of the Westside Cabinet & Millwork SIMPLE IRA Plan, which was established in 1997.
During the period May 18, 2007, through June 19, 2009, Westside Cabinet & Millwork withheld from employees’ pay pre-tax contributions to the SIMPLE IRA Plan and failed to remit the amounts to the plan’s accounts. Defendant Metzler caused the company to retain the salary reduction contributions and failed to ensure the amounts withheld were deposited in plan accounts.
During the period of Nov. 4, 2005, through Sept. 11, 2009, Westside Cabinet & Millwork withheld from its employee’s pay pre-tax contributions to the plan and failed to remit the amounts in a timely manner to plan accounts. The monies were retained in Westside Cabinet & Millwork’s general assets.
Defendant Metzler caused the company to retain the salary reduction contributions and failed to ensure the amounts withheld were deposited in plan accounts. She was found to be liable for a total of $44,540.61 in unremitted contributions and lost opportunity costs to the plan.
Resolution: Metzler has been ordered to make the plan whole for any losses, correct prohibited transactions and is permanently enjoined from serving as a fiduciary or service provider to an ERISA covered plan.
Court: United States District Court for the Western District of Wisconsin, Madison, Wis.
Docket Number: 11-cv-00546
U.S. Department of Labor materials are accessible at www.dol.gov. The information above is available in large print, Braille, audio tape or disc from the COAST office upon request by calling 202-693-7828 or TTY 202-693-7755.