March 3, 2014

US Department of Labor secures appointment of independent fiduciary to free 401(k) assets of defunct Syracuse, NY, construction company

NEW YORK – The U.S. Department of Labor has obtained a default judgment from the U.S. District Court for the Northern District of New York that orders the appointment of M. Larry Lefoldt, Lefoldt & Co. PA, as independent fiduciary to the 401(k) plan of the defunct David J. Hardy Construction Co. of Syracuse. With his appointment, Lefoldt can administer and distribute assets to plan participants and beneficiaries.

March 3, 2014

EBSA News Release: US Department of Labor secures appointment of independent fiduciary to free 401(k) assets of defunct Syracuse, NY, construction company [03/03/2014]

NEW YORK — The U.S. Department of Labor has obtained a default judgment from the U.S. District Court for the Northern District of New York that orders the appointment of M. Larry Lefoldt, Lefoldt & Co. PA, as independent fiduciary to the 401(k) plan of the defunct David J. Hardy Construction Co. of Syracuse. With his appointment, Lefoldt can administer and distribute assets to plan participants and beneficiaries.

March 3, 2014

US Labor Department sues Radford, Va.-based employer, pension plan trustees to recover assets

Date of Action: Feb. 26, 2014

Name(s) of Defendants: Mark Kinser, Joyce Bennett, Unlimited Construction Inc.

February 26, 2014

EBSA News Release: Webcast will advise college seniors, young workers on saving for retirement [02/26/2014]

WASHINGTON — The U.S. Department of Labor will host a webcast for college seniors and young workers on paying down student loans, determining a budget, managing credit and saving for retirement. "Take Charge of Your Financial Future" will be held from 1 p.m. to 2 p.m. EST on Friday, Feb. 28.

February 25, 2014

US Department of Labor secures appointment of independent fiduciary for abandoned Brooklyn, NY, retirement plan

Date of Action: February 14, 2014

Type of Action: Judgment and Order

Name(s) of Defendant: People of Color in Crisis 403(B) Retirement Plan

February 20, 2014

EBSA News Release: Obama administration announces final rule regarding Affordable Care Act 90-day waiting period limitation [02/20/2014]

WASHINGTON — The U.S. Departments of Labor, Treasury, and Health and Human Services have announced the publication of final regulations implementing a 90-day limit on waiting periods for health coverage.

"This is a common sense measure that helps workers access employer-sponsored health insurance while providing employers flexibility," said Assistant Secretary of Labor for Employee Benefits Security Phyllis C. Borzi.

February 20, 2014

US Department of Labor files suit to restore losses to employee benefit plan of The Anesthesia & Pain Center of Akron, Ohio

Date of Action: Feb. 19, 2014

Type of Action: Complaint

Names of Defendant: The Anesthesia & Pain Center of Akron Inc., The Anesthesia & Pain Center of Akron Inc. 401(k) and Profit Sharing Plan, Frank Kousaie

February 18, 2014

US Department of Labor files suit to restore losses to Guardian Graphics Profit Sharing Plan in Chicago

Guardian Graphics Profit Sharing Plan in Chicago

Date of Action: Jan. 13, 2014

Type of Action: Complaint

Names of Defendant: Richard J. Jurczykowski, Richard A. Lindahl, Guardian Graphics Ltd., Guardian Graphics Ltd. Profit Sharing Plan

February 13, 2014

US Department of Labor files suit to restore nearly $15,000 in losses to employee retirement plan of Madison-based IDS Sales & Engineering Inc.

Employee Retirement Plan of Madison-based IDS Sales & Engineering Inc.

Date of Action: Feb. 12, 2014

Type of Action: Complaint, filed in the U.S. District Court for the Western District of Wisconsin, Madison

Names of Defendant: David Stratton, IDS Sales & Engineering Inc., IDS Sales & Engineering Inc. Retirement Savings Plan

February 13, 2014

US Department of Labor files suit to terminate employee benefit plan of Clifford Replacement Windows & Siding and distribute assets

Date of Action: Jan. 30, 2014

Type of Action: Complaint

Names of Defendant: Timothy J. Clifford, Jr., Patrick D. Clifford, Clifford Replacement Windows & Siding, Inc., CRW Inc. 401(k) Plan in Mount Prospect, Ill.

February 13, 2014

US Labor Department sues defunct California pet clinic and its owners to restore assets and recover lost employee contributions to profit sharing plan

Date of Action: Feb. 12, 2014

Type of Action: Complaint

Name of Defendants: Animal Clinic of Alamo Inc., Deborah Knibb, John C. Baine III and Animal Clinic of Alamo Profit Sharing Plan

February 11, 2014

Perez v. Gail Garrow involving failure to properly administer and terminate IAQ Inc. company’s 401(k) plan in Captiva, Fla.

Date of Action: Feb. 11, 2014

Type of Action: Consent Judgment and Order

Name(s) of Defendant(s): Gail Garrow, IAQ Inc., and IAQ Inc. 401(k) Plan

February 7, 2014

US Labor Department files complaint to restore losses to the Nickson’s Machine Shop Inc. 401(k) Savings Plan in Santa Maria, Calif.

Date of Action: Jan. 10, 2014

Type of Action: Complaint

Name of Defendants: Nickson’s Machine Shop Inc., Dennis W. Leal and Nickson’s Machine Shop 401(k) Savings Plan

February 6, 2014

Judge orders trustees to restore losses to Mid-States Express Inc. 401(k) Plan; fiduciary ordered to restore losses to the Employee Benefit Plan in Aurora, Ill.

Date of Action: Jan. 29, 2014

Type of Action: Order

Names of Defendant: Bruce E. Hartmann, Terry Hartmann, Mid States Express 401(k) Plan and Mid-States Express Inc. Employee Benefit Plan

February 5, 2014

US Labor Department secures appointment of independent fiduciary for abandoned Albany, N.Y. 401(k) Plan

Date of Action: Jan. 28, 2014

Type of Action: Decision and Order

Name(s) of Defendant: Intelligent System Solutions 401(k) Plan

Allegations: Intelligent System Solutions, doing business as, Cipher Associates 401(k) plan, based in Albany, N.Y., is an employee defined contribution plan established in 1998. The Plan was sponsored by Intelligent System Solutions, Inc. doing business as Cipher Associates.

February 5, 2014

EBSA News Release: US Labor Department recovers more than $490,000 for Ky.-based pension plan and obtains judgments against plan fiduciaries [02/05/2014]

LEXINGTON, Ky. — The U.S. Department of Labor has obtained consent judgments against Robert La Courciere and Pamela Babbish, former trustees of the Fourslides Inc. pension plan; these judgments follow the recovery of $490,594 owed to the plan. A lawsuit filed in the U.S. District Court for the Eastern District of Kentucky alleged that over three years, La Courciere, Babbish, George Hofmeister and Fourslides Inc. improperly used pension funds. Judgments against the remaining defendants are being sought by the department in ongoing litigation.

February 5, 2014

EBSA News Release: US Labor Department recovers more than $490,000 for Ky.-based pension plan and obtains judgments against plan fiduciaries [02/05/2014]

LEXINGTON, Ky. — The U.S. Department of Labor has obtained consent judgments against Robert La Courciere and Pamela Babbish, former trustees of the Fourslides Inc. pension plan; these judgments follow the recovery of $490,594 owed to the plan. A lawsuit filed in the U.S. District Court for the Eastern District of Kentucky alleged that over three years, La Courciere, Babbish, George Hofmeister and Fourslides Inc. improperly used pension funds. Judgments against the remaining defendants are being sought by the department in ongoing litigation.

February 4, 2014

Perez v. Burgess Baird Jr. involving prohibited loans and investments made by DSI Contracting Inc.’s profit sharing retirement plan in Austell, Ga.

Date of Action: Feb. 3, 2014

Type of Action: Complaint

Name(s) of Defendant(s): Burgess Baird Jr. and DSI Contracting Inc.

February 4, 2014

Department of Labor obtains consent judgment to restore unremitted employee contributions to retirement and health plans of Sunset Golf

Date of Action:  Feb. 4, 2014

Type of Action:  Consent Order and Judgment

Names of Defendants: Daniel Deighan, Timothy Deighan, Sunset Golf LLC, Revolution Golf LLC, Sunset Golf, LLC 401(k) Employee Retirement Plan, and Sunset Golf LLC Group Health Plan in Loudonville, Ohio.

February 4, 2014

US Labor Department files suit against fiduciary of Weymouth, Mass. profit-sharing plan to recover unremitted employee contributions

Date of Action: January 30, 2014

Type of Action: Complaint

Name of Defendant: Thomas R. Brewer, in his capacity as fiduciary of the Matthewson Corp. Inc. 401(k) Profit Sharing Plan