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In an opinion handed down in the federal district court in Orlando, a long-running lawsuit of the U.S. Department of Labor against the Orlando-based Reinecke Agency, doing business as Dealers Association Plan (DAP), is essentially concluded.

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A federal court ordered a Norcross, Ga. couple to pay $66,472 over four years to a pension plan sponsored by the Harris Engineering firm as restitution for using the plan’s assets to make a series of imprudent loans to friends and associates.

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A Bucks County, Penn. doctor and his wife pleaded guilty of conspiring to unlawfully use of employee benefit funds and to money laundering. Their pleas were entered Dec. 14 before Judge William H. Yohn, Jr. in the U.S. District Court for the Eastern District of Pennsylvania.

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The former owner of an Overland Park, Kan. company pleaded guilty to a one-count information charging him with embezzling assets from his company’s 401(k) plan. According to the guilty plea filed Dec.11, Allen Sander, acting as sole trustee of the Shamrock Services Company Employees’ Saving Plan, a 401(k) defined contribution plan, allegedly embezzled plan assets, including employee contributions between July 1991 and January 1996. The plan covered 15 employees.

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The Department of Labor has obtained a temporary restraining order freezing the assets of the trustees of the International Workers' Guild health plan, two affiliated organizations and their principals for mismanaging the assets of the health plan covering participants in 21 states.

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The U.S. Department of Labor filed a lawsuit alleging that a St. Paul corporation inappropriately valued its own common stock held as an investment by one of its two corporate pension plans at book rather than fair market value.

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The U.S. Department of Labor's Pension and Welfare Benefits Administration took a major step today to address concerns of the employee benefit industry about fiduciary liability and the Year 2000 (Y2K) computer problem. To help the benefit community understand these issues, the agency is releasing sample questions used by the agency's investigators to evaluate Y2K compliance in the course of civil investigations of benefit plans across the United States.

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Trustees to employee benefit plans of Local 705 of the International Brotherhood of Teamsters in Chicago have agreed to restore $20 million owed to the local union’s pension plan by an affiliated welfare plan under a consent order and judgment obtained by the U. S. Department of Labor.

The restitution returns $16,511,985 to the pension plan which the trustees improperly transferred to the welfare benefit plan, plus interest.

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The owner of a St. Joseph, Mo. printing company and his manager have been sued by the U.S. Department of Labor for failing to forward $6,024 in contributions deducted from employee paychecks to the company’s 401(k) defined contribution plan.

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The U.S. Department of Labor has proposed amendments to its annual reporting regulations under the Employee Retirement Income Security Act (ERISA) to conform the regulations to the new streamlined Form 5500, schedules and instructions. The new Form 5500 will be implemented for employee benefit plans starting with 1999 plan year filings.

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The trustee of a profit sharing plan covering the employees of General Steel Fabricators, Inc. in Latham, New York, agreed to appoint a successor trustee to manage the plan under the terms of a consent order and judgment obtained by the U.S. Department of Labor.

The trustee has already restored $42,521.20 to the plan, which will be credited to the accounts of eligible participants.

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The San Francisco investment firm of McMorgan and Co. has paid more than $13.7 million, including interest, to 10 pension plans as part of a negotiated settlement, the U.S. Department of Labor announced today.

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Michael Ted McKendree, 39, of Corte Madera, Cal., was arrested today by Special Agents of the Federal Bureau of Investigation on an eleven-count indictment returned on December 2, 1998, by a Federal Grand Jury in San Francisco. McKendree was indicted for allegedly embezzling funds from a pension plan covered by the Employee Retirement Income Security Act of 1974 (ERISA) and for mail fraud.

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The U.S. Department of Labor filed a lawsuit today to appoint an independent trustee to terminate and distribute the assets of a 401(k) plan sponsored by the Hollywood, Fla.-based Carolina Fitness Equipment, Inc. (CFE).

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The U.S. Department of Labor today announced it will not adopt a proposed non- enforcement policy affecting annual reports (Form 5500s) filed by multiemployer welfare benefit plans.

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The U.S. Department of Labor’s Advisory Committee on Negotiated Rulemaking will hold public meetings on December 16 and 17 at the Federal Mediation and Conciliation Service at 2100 K St., N. W., Room 200, in Washington, D.C. The committee will meet from 9 a.m. to 5 p.m. each day.

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The owner of the Dallas-based firm ISG State Operations, Inc. was indicted today by a Dallas County grand jury for allegedly misappropriating $6,933 in 401(k) contributions owed to the company's retirement plan.

The company processed Medicaid claims under a contract with the State of Texas and sponsored the ISG State Operations, Inc. 401(k) plan. The 401(k) plan is governed by the Employee Retirement Income Security Act (ERISA).

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The U.S. Department of Labor filed a lawsuit in Chicago, Ill., against Lexington Securities, Incorporated, and its plan fiduciary Paul Maton for withholding $12,608.65 of voluntary employee plan contributions in violation of the federal pension law. The Lexington Savings Incentive Plan was established on Feb. 1, 1995, as a cash or deferred profit sharing plan.

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The U.S. Department of Labor obtained a consent judgment and order providing for more than $1.5 million to be restored to the Teamsters Local 125 Retirement Fund in Little Falls, New Jersey.

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The U. S. Department of Labor today granted a class exemption for purchases and sales of foreign currencies between employee benefit plans and banks or broker-dealers.