U.S. Labor Department asks court to distribute profit-sharing plan assets of closed Chesterfield, Michigan, company

Chesterfield, Michigan – The U.S. Department of Labor has filed a lawsuit in federal district court in Detroit, Michigan, to obtain appointment of an independent fiduciary to terminate the profit-sharing trust of Constitution Mold & Engineering Inc. (CME) and distribute its assets to eligible plan participants. CME was formerly a business operated in Chesterfield.

The suit alleges that plan administrators failed to take responsibility for terminating the plan and distributing its assets to beneficiaries and participants when the company ceased doing business.

The suit seeks to appoint an independent fiduciary to manage the CME profit-sharing trust, terminate it and distribute assets to eligible participants and beneficiaries. The trust has 10 remaining participants with assets totaling $155,698.

“The department is dedicated to helping workers get their benefits when plan fiduciaries fail to act,” said Paul Baumann, regional director of the Cincinnati Regional Office of the department’s Employee Benefits Security Administration (EBSA).

The suit resulted from an investigation conducted by the Detroit district of the Labor Department’s Employee Benefits Security Administration’s Cincinnati Regional Office. Employers and workers can reach the Cincinnati office at 859.578.4680 or toll-free at 866.444.3272 for help with problems relating to private sector retirement and health plans.

Solis v. C.M.E. Inc., Ronald D. Hayden, Dennis J. Kretchman , Michael Eberlein
Civil Action Number 2:09cv11159