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Owners of Guardian Graphics, Ltd. to restore more than $50,000 to Chicago employee retirement plan
Date of Action: March 28, 2014
Type of Action: Consent Order and Judgment
Names of Defendant: Richard J. Jurczykowski, Richard A. Lindahl, Guardian Graphics, Ltd., Guardian Graphics Ltd. 401(k) Profit Sharing Plan
Allegations: The U.S. Department of Labor filed a lawsuit on Jan. 13, 2014, in the U.S. District Court for the Northern District of Illinois, to restore more than $50,000 to the Guardian Graphics Ltd. 401(k) Profit Sharing Plan. The Department’s suit alleges that the company, Guardian Graphics, Ltd., as well as owners and Plan fiduciaries, Richard Jurczykowski and Richard A. Lindahl, violated the Employee Retirement Income Security Act by failing to ensure that participant contributions totaling $55,538.83 were remitted to the Plan during the period of Jan. 23, 2008, through May 10, 2013.
Resolution: Judge Robert M. Dow, Jr., of the U.S. District Court for the Northern District of Illinois, entered a Consent Order and Judgment resolving the Department’s suit with respect to Jurczykowski and Lindahl. Under terms of the Consent Order and Judgment, Jurczykowski agreed to restore to the Plan $50,656.12, which includes $43,528.57 in unremitted participant contributions and $7,127.55 in lost opportunity costs. Jurczykowski further agreed to terminate the Plan and distribute the Plan assets to eligible participants. Both Jurczykowski and Lindahl are also permanently enjoined from violating ERISA and from serving as fiduciaries or service providers to any ERISA covered employee benefit plan.
Court: United States District Court, Northern District of Illinois, Eastern Division
Docket Number: 1:14-cv-00213
Employers and workers can reach EBSA toll-free at 866-444-3272 for help with problems related to private sector retirement and health plans. Additional information can be found at www.dol.gov/ebsa.
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.