Archived News Release — Caution: Information may be out of date.

The U. S. Department of Labor’s ERISA Section 3(40) Negotiated Rulemaking Advisory Committee will hold public meetings on August 25 and 26 to continue discussions to develop a proposed rule that would lay out a process and criteria for determining whether an employee benefit plan is established or maintained under a collective bargaining agreement.

Archived News Release — Caution: Information may be out of date.

For more information call: (202) 693-4650

Secretary of Labor Alexis M. Herman today joined with representatives of the American Bankers Association, the American Council of Life Insurance, and the Investment Company Institute to release new 401(k) fee disclosure tools. These new tools will help employers, especially small employers, understand the investment fees and expenses which are charged to 401(k) retirement plans.

Archived News Release — Caution: Information may be out of date.

Archived News Release — Caution: Information may be out of date.

The U.S. Department of Labor has settled a lawsuit it had filed against Nursing Placement Home Care, Inc., of Providence, Rhode Island, for firing an employee who had complained to the Department after the company began making unauthorized deductions from the employee’s paycheck for health insurance premiums.

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Financial Application Consulting Services, Inc. in Livonia, Mich., and trustees of the company’s 401(k) plan were ordered to collectively restore $222,503.86 to the plan in a consent order and judgment obtained by the U. S. Department of Labor.

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Los Angeles - The U.S. Department of Labor announced today it filed suit July 8, 1999, in the U.S. District Court for the Central District of California against two Los Angeles corporations; their president and majority shareholder; the companies’ pension plan; and the pension plan’s trustees for breach of fiduciary duties under the Employee Retirement Income Security Act (ERISA).

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An Anniston, Ala., non-profit corporation and the former trustee of its 401(k) profit sharing plan were sued by the U. S. Department of Labor on July 8 for failure to timely remit more than $11,000 of employee contributions to the plan.

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Executives of ASA Freight Systems, Inc., a now defunct Milwaukee business, were ordered to pay more than $10,000 in restitution to participants covered by the company’s health benefit plan and were barred from managing any plans governed by federal pension law in a consent order and judgment obtained by the U.S. Department of Labor.

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The U.S. Department of Labor today settled its lawsuit with executives of Brewster Dairy, Inc., in Brewster, Ohio, who agreed to pay $333,333 to the company’s profit sharing plan. These recovered funds and any additional distributions from the limited partnership are to be prorated and allocated to individual accounts of the plan’s eligible participants except for the defendants in the case.

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Los Angeles - The U.S. Department of Labor announced today a suit was filed June 28, 1999, in the U.S. District Court for the Central District of California against a Los Angeles corporation, its president and its 401(k) profit sharing plan for breach of fiduciary duties under the Employee Retirement Income Security Act (ERISA).

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The U.S. Department of Labor has sued officials of a now- defunct Gurnee, Ill., business for allegedly depleting the company’s two pension plans through a series of self-dealing transactions.

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Charter One of Cleveland and the former chairman of the predecessor company — Haverfield Corp. — have agreed to a settlement with the U. S. Department of Labor providing for payment of $70,000.00 to the participants of the company’s employee stock ownership plan (ESOP) as restitution for improperly purchasing corporate stock for the plan at artificially inflated prices.

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The U.S. Department of Labor today published a Federal Register notice seeking public comments on draft computer scannable formats of the 1999 Form 5500 Annual Return/Report of Employee Benefit Plan. The formats were developed by two competing national computer firms for use with the new ERISA Filing Acceptance System or "EFAST."

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The Secretary of Labor’s Advisory Committee on Employee Welfare and Pension Benefit Plans’ three working groups will hold the fourth in a series of fact-gathering meetings on July 13 and 14. All sessions will be held at the Department of Labor’s Frances Perkins Building at 200 Constitution Avenue NW, Washington, DC, in Room S 4215 A-B.

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The U.S. Department of Labor has negotiated a settlement of its lawsuit against Columbia, S.C.-based C.W. Haynes and Company, Inc. and its president. Defendants are required to pay the company’s profit sharing plan $1,093,172.97 for the plan’s 40 percent interest in the Folly Fontaine Commerce Center partnership and the fair market value of the note payable to the plan by the Fontaine partnership.

The defendants also are ordered:

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Leslie B. Kramerich, the Deputy Assistant Secretary of Labor for the Pension and Welfare Benefits Administration, today testified before the Senate Special Committee on Aging on the agency’s efforts to expand retirement coverage and promote retirement savings for all Americans.

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The U.S. Department of Labor today obtained a preliminary injunction freezing the assets of third-party administrator Administrative Services of Texas, Inc. of Houston, its parent Administrator Services of North America and a former corporate executive to prevent further depletion of the assets of client welfare plans whose accounts were held by them.

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Seattle - The U.S. Department of Labor announced today that Consent Judgments were signed this week in the United States District Court for the Western District of Washington, Tacoma, which formalize negotiated settlements affecting management of the J.D. English Steel Company Profit Sharing and 401(k) Plan and ordering restitution to the plan for alleged violations of the Employee Retirement Income Security Act of 1974 (ERISA).

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For more information call: (202) 219-8921
 

At today's White House Conference on Mental Health, President Clinton unveiled initiatives by the U.S. Department of Labor to help Americans understand what rights they have to receive mental health benefits under an employer's health plan. He also announced the Department's toll-free hotline where the public can call to receive free copies of this information.

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Community Care Systems, Inc. (CCSI), of Wellesley, Massachusetts, and Frederick Thacher, the company’s chief executive officer and principal shareholder, have agreed to the restoration of nearly $140,000 to the pension plan accounts of the participants of the Community Care Systems, Inc. Employee 401(k) Plan as the result of a lawsuit filed by the U.S. Department of Labor.