U.S. Labor Department sues to recover assets for SIMPLE IRA plan sponsored by Coshocton, Ohio-based company

Coshocton, Ohio – The U.S. Department of Labor has sued an officer and fiduciary to the savings incentive match plan for employees individual retirement account (SIMPLE IRA) plan of Pharmaceutical Alternatives Inc. of Coshocton for improperly using plan assets withheld from employees’ pay for the benefit of the company as well as other violations of the Employee Retirement Income Security Act (ERISA). The company also does business as Three Rivers Infusion Option Care.

The department’s lawsuit alleges that from Aug. 5, 2005, to Jan. 16, 2009, Barbara Elise Miller, a company executive, caused the company to retain participant contributions intended for the ERISA-covered plan, or failed to remit contributions in a timely fashion. The department seeks to recover all assets owed to the retirement plan.

“The Labor Department will continue to help workers get their benefits when plan assets are misused,” said Paul Baumann, director of the Cincinnati Regional Office of the department’s Employee Benefits Security Administration (EBSA), which investigated the case.

The suit was filed in federal district court in Columbus, Ohio. Employers and workers can reach EBSA’s Cincinnati Regional Office at 859.578.4680 or toll-free at 866.444.3272 for help with problems relating to private sector retirement and health plans.

Secretary of Labor v. Barbara Elise Miller
Civil Action Number 2:09-cv-00742

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