September 22, 2008

U.S. Labor Department extends annual reports deadline after hurricane hits Texas and Louisiana

Archived News Release — Caution: Information may be out of date.

September 22, 2008

Boston company and officers ordered to restore nearly $73,000 in misused funds to company 401(k) plan to resolve U.S. Labor Department lawsuit

Archived News Release — Caution: Information may be out of date.

Boston – A federal judge has ordered G. Conway Inc. of Boston and corporate officers Gerard D. Conway and Robert Conway to repay $72,803 to the company’s 401(k) plan to resolve a lawsuit filed by the U.S. Department of Labor that alleged violations of the Employee Retirement Income Security Act (ERISA).

September 22, 2008

U.S. Department of Labor sues executive of defunct Minneapolis company to protect participants of abandoned plan

Archived News Release — Caution: Information may be out of date.

Minneapolis – The U.S. Department of Labor has sued to appoint an independent fiduciary to administer and terminate the 401(k) plan of KSM Holding Corp., a defunct Minneapolis company.

September 22, 2008

U.S. Labor Department announces new online tools for workers and plan administrators

Archived News Release — Caution: Information may be out of date.

Washington – The U.S. Department of Labor’s Employee Benefits Security Administration (EBSA) today announced new online tools to give workers access to financial information and an improved calculator that makes it easier for employers and plan administrators to pay online civil penalties for delinquent filings of annual reports under the agency’s Delinquent Filer Voluntary Compliance Program (DFVCP).

September 22, 2008

U.S. Department of Labor sues defunct Wyckoff, N.J., company to protect participants of employee profit-sharing plan

Archived News Release — Caution: Information may be out of date.

Wyckoff, N.J. — The U.S. Labor Department has sued to obtain appointment of an independent fiduciary to oversee the employee profit-sharing plan of Jules Prosnitz & Sons Inc., formerly doing business as “Prozy’s Army-Navy Store,” a defunct company located in Wyckoff.

September 18, 2008

U.S. Labor Department obtains court-appointed independent fiduciary for 401(k) plan abandoned by Long Island, N.Y., company

Archived News Release — Caution: Information may be out of date.

New York – The U.S. Department of Labor has obtained a court order appointing an independent fiduciary to manage the abandoned 401(k) plan of the defunct Freedom Security Systems Inc. of New Hyde Park, New York.

September 18, 2008

U.S. Labor Department Web site assists hurricane victims in locating employee benefit plan sponsors

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

September 17, 2008

U.S. Department of Labor official testifies before Senate committee on fee disclosures for 401(k)-type plans

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

September 15, 2008

U.S. Department of Labor’s ERISA Advisory Council working groups to hold teleconference September 29

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

Washington – The Advisory Council on Employee Welfare and Pension Benefit Plans (known as the ERISA Advisory Council) will convene by teleconference September 29 to discuss reports and recommendations by its working groups to be submitted to the secretary of labor.

September 15, 2008

U.S. Labor Department takes legal action against trustee of AE Seven LLC 401(k) plan for failure to administer employee assets

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

Greenwood Village, Colorado – The U.S. Department of Labor has sued the trustee of the AE Seven LLC 401(k) plan in Greenwood Village for failure to properly administer the company’s 401(k) plan in violation of the Employee Retirement Income Security Act (ERISA).

September 10, 2008

U.S. Labor Department obtains civil contempt order against trustees of California-based health benefit fund

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

Atlanta — A federal district court in Atlanta has held two former trustees of the California-based International Union of Industrial and Independent Workers Benefit Fund (IUIIW) in civil contempt for failing to comply with a previous court order barring them from serving in a fiduciary capacity to plans governed by the Employee Retirement Income Security Act (ERISA).

September 9, 2008

U.S. Labor Department sponsors free workshops to assist employee benefit professionals

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

Pittsburgh, Pennsylvania – The U.S. Department of Labor’s Employee Benefits Security Administration (EBSA) will hold two free workshops to help employers, pension plan administrators and other benefit professionals comply with federal employee benefits law. They will be held on September 18 at the Radisson Hotel Pittsburgh Greentree, 101 Radisson Drive in Pittsburgh, Pennsylvania.

September 9, 2008

U.S. Labor Department sponsors free workshops to assist employee benefit professionals

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

Silver Spring, Maryland – The U.S. Department of Labor’s Employee Benefits Security Administration (EBSA) will hold two free workshops to help employers, pension plan administrators and other benefit professionals comply with federal employee benefits law. They will be held on September 16 at EBSA’s Washington District Office, 1335 East West Highway (first floor) in Silver Spring.

September 4, 2008

U.S. Labor Department obtains settlement with Elgin, Illinois business owner to restore 401(k) profit-sharing funds

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

Elgin, Illinois – The U.S. Department of Labor has obtained a settlement restoring $14,033 owed to the Airtronics Gage & Machine Co. 401(k) Profit-Sharing Plans as restitution for losses resulting from violations of the Employee Retirement Income Security Act (ERISA). The 401(k) plan was sponsored by the Air Gage Co. and Airtronics Gage & Machine Co. in Elgin.

September 4, 2008

U.S. Labor Department obtains default judgment against Fishers, Indiana business leading to recovery of 401(k) profit-sharing funds

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

Fishers, Indiana – The U.S. Department of Labor has obtained a default judgment against defunct Technengineering Services Inc. to appoint an independent fiduciary to manage and terminate the company’s 401(k) profit-sharing plan and distribute $20,599 in assets to eligible participants and beneficiaries.

September 3, 2008

U.S. Labor Department sues fiduciary of Adtech Systems in San Antonio to recover 401(k) assets

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

San Antonio – The U.S. Department of Labor has sued the owner of defunct Adtech Systems Inc. in San Antonio for improperly using 401(k) assets withheld from employees’ pay to benefit the company in violation of the Employee Retirement Income Security Act.

September 3, 2008

U.S. Department of Labor offering free fiduciary workshop on ERISA and HIPAA rules for small businesses at University of Memphis

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

Atlanta – The U.S. Department of Labor’s Employment Benefits Security Administration (EBSA) will provide a free workshop on Thursday, September 25, in Memphis, Tennessee, to help small businesses, employers, employee benefit professionals and others understand their fiduciary responsibilities under the Employee Retirement Income Security Act (ERISA).

August 22, 2008

U.S. Department of Labor sues defunct West Chester, Pennsylvania company to protect participants of abandoned retirement plan

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

West Chester Pennsylvania The U.S. Department of Labor has filed suit to have an independent fiduciary appointed to oversee the 401(k) plan of Five Star Industrial Services Inc., a defunct company located in West Chester, Pennsylvania.

August 21, 2008

U.S. Labor Department proposes rules on investment advice exemption for 401(k) plans and IRAs

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

Washington – The U.S. Department of Labor today announced publication of two proposed rules under the Pension Protection Act (PPA) to make investment advice more accessible for millions of Americans in 401(k) type plans and individual retirement accounts (IRAs). The proposed regulation and class exemption are to be published in the August 22, 2008 Federal Register.