U.S. Labor Department secures pension funds for former Intrenet Inc. workers in Milford, Ohio

Archived News Release — Caution: Information may be out of date.

Milford, Ohio – The federal district court in Columbus, Ohio, has issued a default judgment granting the U.S. Department of Labor’s request to allow the distribution of 401(k) assets owed to former workers of Intrenet Inc. in Milford.

The court action resolves the department’s lawsuit against the company for failure to terminate the 401(k) plan and make required distributions to all participants and beneficiaries. The court appointed an independent fiduciary to make these distributions and then terminate the plan.

Intrenet was a holding company for truckload carrier subsidiaries throughout North America. The company ceased operation in 2001 with $73,629 in assets and 26 participants remaining in the plan.

“The department will act when plan fiduciaries fail to carry out their duty to protect the retirement plan assets held on behalf of participants,” said Joseph Menez, director of the department’s Employee Benefits Security Administration (EBSA) Cincinnati Regional Office.

The judgment resulted from an investigation conducted by EBSA’s Cincinnati office. Employers and workers can reach the regional office at 859.578.4680 or toll-free at 1.866.444.EBSA (3272) for help with problems relating to private sector retirement and health plans. In fiscal year 2006, EBSA achieved monetary results of $1.4 billion related to pension, 401(k), health and other benefits for millions of American workers and their families.

Chao v. Intrenet
Civil Action Number: 2:07cv23

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Archived News Release — Caution: Information may be out of date.