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Judgment orders fiduciaries to restore more than $33,000 to Teletrans Services Inc. Savings and Retirement Plan in Green Bay, Wisconsin
Date of Action: September 2, 2014
Type of Action: Consent Order and Judgment, U.S. District Court for the Eastern District of Wisconsin, Green Bay Division
Names of Defendant: Jane E. Lehman, Teletrans Services Inc., and Teletrans Services Inc. Savings and Retirement Plan
Summary: The U.S. District Court for the Eastern District of Wisconsin entered a Consent Order and Judgment against Green Bay, Wisconsin-based Teletrans Services Inc. and Jane E. Lehman. Teletrans sponsored the Teletrans Services Inc. Savings and Retirement Plan and was the named plan administrator. Lehman was Teletrans’ president and sole shareholder before the company was administratively dissolved on Sept. 11, 2012. Lehman was also the Plan’s sole trustee, and oversaw its day-to-day operations. The Secretary of Labor’s complaint alleged that the Defendants were liable for losses regarding unremitted employee contributions, caused by their violations of the Employee Retirement Income Security Act.
Resolution: Under terms of the consent order, Lehman will pay $33,956.17 to the Plan, consisting of $31,796.09 in unremitted participant contributions and $2,160.08 in total lost opportunity costs. The order also provides for the appointment of AMI Benefit Plan Administrators Inc., as the independent fiduciary for the Plan. AMI will have the responsibility and authority to collect, manage and liquidate the Plan’s assets for the benefit of its participants and beneficiaries, until the assets of the Plan are distributed to participants and beneficiaries.
The defendants are also enjoined from violating the provisions of ERISA and serving or acting as a fiduciary or service provider to any employee benefit plans subject to ERISA.
Court: United States District Court District, Eastern District of Wisconsin, Green Bay Division
Docket Number: 1:13-cv-00459-WCG
Employers and workers can reach Employee Benefits Security Administration 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.