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Secretary of Labor Thomas E. Perez

News Brief

EBSA News Brief: [03/12/2015]
Contact Name: Diana Petterson or Juan J. Rodriguez
Phone Number: (972)-850-4710 or x4709
Email: Petterson.Diana@dol.gov or Rodriguez.Juan@dol.gov
Release Number: 15-0414-DAL

US Labor Department files lawsuit against Longmont, Colorado, administrator for receiving illegal commission payments

Date of Action:   March 9, 2015

Type of Action: Judgment to permanently enjoin from serving as a fiduciary to any retirement benefit plan subject to the Employee Retirement Security Income Act of 1974 and from violating the act.

Name(s) of Defendant: Alvin Martin Mavis

Allegations: The U.S. Department of Labor filed a lawsuit against Mavis, who served as third-party administrator for the Welzig Heating and Air 401(k) Plan in Longmont, Colorado. While in that capacity, Mavis received illegal commission payments from a securities broker/dealer.  Although the plan's participants did not suffer any losses from Mavis' violations, Mavis did profit illegally from the commission payments.

Resolution: The Court issued a judgment permanently enjoining Alvin Martin Mavis from serving as a fiduciary to any retirement benefits plan and from violating ERISA in the future.

Court: The U.S. District Court for the District Court of Colorado

Docket Number: 14-cv-03483-WYD