NEW YORK – Accurate company valuations are critical when it comes to establishing an Employee Stock Ownership Plan. Too often, company owners seek to inflate the price to benefit themselves at the expense of workers. The U.S. Department of Labor alleges that this is what Dr. Roy Geronemus, owner of the Manhattan-based Laser and Skin Surgery Center of New York, and plan trustee Samuel Ginsberg did when they created the Laser Skin and Surgery Center Employee Stock Ownership Plan in 2009.

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

Date of Action: March 9, 2015

Type of Action: Consent Judgment and Order

Name of Defendant: Electronic Business Solutions Inc.

Date of Action: Feb. 23, 2015

Type of Action: Complaint

Name(s) of Defendant(s): Vic International Corp., Vic International 401(k) Profit Sharing Plan, James Victor Green, Kelly Milligan, and Paul Kelley

Date of Action: Feb. 23, 2015

Type of Action: Complaint

Name(s) of Defendant(s): Vic International Corp., Vic International 401(k) Profit Sharing Plan, James Victor Green, Kelly Milligan, and Paul Kelley

Date of Action: Feb. 26, 2015

Type of Action: Complaint

Name(s) of Defendant(s): Massey Wholesale Co. Inc., Massey Wholesale Co. SIMPLE IRA Retirement Plan, Larry W. Massey as executor of the estate of Mary S. Massey and Larry W. Massey

Date of Action: Jan. 26, 2015

Type of Action: Complaint

Names of Defendant: Daniel Byrnes and the Fort Orange Capital Management Profit-Sharing Plan

Date of Action: Feb. 26, 2015

Type of Action: Judgment and Order

Defendant: First Land Title Agency of New York Inc. Profit Sharing Plan

Allegations: The plan was established in January 2002, as a defined contribution plan for employees of the First Land Title Agency of New York Inc. in Central Islip, N.Y. The conviction of Andrew Knee, the plan’s trustee and only fiduciary, on a charge of grand larceny prohibits him from serving as an administrator, officer or fiduciary of any benefit plan covered under the Employee Retirement Income Security Act.

LEXINGTON, Ky. — The U.S. District Court for the Eastern District of Kentucky has issued a consent judgment against George Hofmeister, trustee of pension plans sponsored by TPOP LLC, formerly known as Metavation LLC, Fairfield Castings LLC (formerly known as Revstone Castings Fairfield LLC), and Fourslides Inc., requiring Hofmeister to repay $300,000 to the plans. The judgment also bans Hofmeister from being a fiduciary or service provider to employee benefit plans under the Employee Retirement Income Security Act.

LEXINGTON, Ky. — The U.S. District Court for the Eastern District of Kentucky has issued a consent judgment against George Hofmeister, trustee of pension plans sponsored by TPOP LLC, formerly known as Metavation LLC, Fairfield Castings LLC (formerly known as Revstone Castings Fairfield LLC), and Fourslides Inc., requiring Hofmeister to repay $300,000 to the plans. The judgment also bans Hofmeister from being a fiduciary or service provider to employee benefit plans under the Employee Retirement Income Security Act.

WASHINGTON — The Advisory Council on Employee Welfare and Pension Benefit Plans, also known as the ERISA Advisory Council, will hold its first meeting of 2015 on March 20 in Washington, D.C., at the U.S. Department of Labor, 200 Constitution Ave. NW, Room S-2508, from 1:30-4:30 p.m. Eastern Time. Open to the public, the meeting will begin with the introduction of the new council chair and vice chair. An update on the activities of the U.S.

Date of Action: Feb. 24, 2015

Type of Action: Complaint

Names of Defendant: Jean Hanvik, SGH Communications Inc., SGH Communications Inc. SIMPLE IRA Plan

Allegations: From at least Aug. 8, 2005 to April 26, 2012, Jean Hanvik was the sole owner of SGH Communications in Lakeville, Minnesota. SGH Communications Inc. was the plan administrator for the SGH Communications Inc. SIMPLE IRA Plan.

Date of Action: Feb.  23, 2015

Type of Action: Filing of a Complaint in the U.S. District Court for the Central District of Illinois

Names of Defendants: Martin R. Bothwell III and ThreeSource Inc. 401(k) Plan

BRIDGEPORT, Pa. — After nearly six years of litigation, a federal district court in Philadelphia recently entered a $39.8 million judgment, protecting the rights of workers who participated in more than 400 death benefit plans mismanaged by John J. Koresko V; companies he controlled; and a former associate, Jeanne Bonney. The defendants are permanently barred from serving as fiduciaries to any employee benefit plan and, with the exception of Bonney, must make restitution to the plans.

BRIDGEPORT, Pa. — After nearly six years of litigation, a federal district court in Philadelphia recently entered a $39.8 million judgment, protecting the rights of workers who participated in more than 400 death benefit plans mismanaged by John J. Koresko V; companies he controlled; and a former associate, Jeanne Bonney. The defendants are permanently barred from serving as fiduciaries to any employee benefit plan and, with the exception of Bonney, must make restitution to the plans.

Date of Action: Dec. 23, 2014

Type of Action: Complaint

Names of Defendants: Michael Omstead Smith; Aware Environmental Inc.; and the Aware Environmental Inc. 401(k) Profit Sharing Plan and Trust

WASHINGTON – The U.S. Department of Labor's Employee Benefits Security Administration has announced a final rule implementing the annual funding notice requirements under section 101(f) of the Employee Retirement Income Security Act of 1974, as amended by the Pension Protection Act of 2006.

Date of Action: Jan. 26, 2015

Type of Action: Consent Judgment

Name(s) of Defendant(s): Gregory Ridge, Ridge and Long Limited Co., and Ridge and Long Limited Company 401(k) Profit Sharing Plan and Trust

Allegations: Based on an investigation conducted by the U.S. Department of Labor’s Employee Benefits Security Administration, on July 29, 2014, the Secretary of Labor filed a complaint alleging the following:

Date of Action: Jan. 28, 2015

Type of Action: Consent Judgment and Order

Name of Defendants: SR Plastics Inc., SR Plastics Inc. Group Health Plan, Gary Anderson, and Daniel Fetsch

Date of Action: Jan. 28, 2015

Type of Action: Consent Judgment and Order

Name of Defendants: SR Plastics Inc., SR Plastics Inc. Group Health Plan, Gary Anderson, and Daniel Fetsch