U.S. Labor Department Obtains Appointment of Independent Fiduciary To Manage Illinois Company’s 401(k) Plan

Decatur, Illinois - The U.S. Department of Labor has obtained an amended consent judgment and order requiring a Decatur, Illinois fiduciary of the Jan-San Supply Company 401(k) Plan to restore $47,293 to the plan as restitution for failure to forward contributions withheld from employees’ paychecks.

Under the order, James Lambert must restore losses to the plan, including lost interest, and is permanently barred from serving as a fiduciary or service provider to any employee benefit plan subject to the Employee Retirement Income Security Act (ERISA). The order also appoints an independent fiduciary to ensure payments are forwarded to the plan and to ultimately distribute those assets to participants and beneficiaries and terminate the plan. Jan-San Company was doing business as a cleaning service and supply company.

“The department is committed to doing everything we can to ensure that plan participants receive the money owed to them,” said Steven Eischen, director of the Kansas City regional office of the Employee Benefits Security Administration (EBSA), which investigated the case.

Employers and workers can reach EBSA’s Kansas City regional office at 816.426.5131. Help with problems relating to private-sector retirement and health plans can also be obtained by calling EBSA’s toll-free number, 1.866.444.EBSA (3272). In fiscal year 2005, EBSA achieved monetary results of $1.7 billion related to pension, 401(k), health and other benefits for millions of American workers and their families.

(Chao v. James Lambert)
Civil Action No. 99-2093

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