U.S. Labor Department obtains judgment ordering removal of 401(k) plan fiduciary for Tile Impressions Inc.

Spring Lakes, Mich. – The U.S. Department of Labor has obtained a consent order and judgment requiring Tile Impressions Inc. of Spring Lakes be removed as fiduciary of the company's 401(k) plan for failure to properly administer the plan in violation of the Employee Retirement Income Security Act (ERISA).

The judgment, filed in federal district court in Grand Rapids, Mich., also bars Tile Impressions Inc. from serving in a fiduciary capacity to any ERISA-covered employee benefit plan and appoints AMI Benefit Plan Administrators Inc. to serve as this plan's independent fiduciary. AMI will have authority to terminate the plan and distribute its assets to eligible participants and beneficiaries.

"The Labor Department is committed to protecting workers' benefits when plan assets are either misused or the plans are abandoned," said Paul Baumann, director of the department's Employee Benefits Security Administration (EBSA) Cincinnati Regional Office, which investigated this case.

Employers and workers can reach EBSA's 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. In fiscal year 2009, EBSA achieved monetary results of $1.3 billion related to pension, 401(k), health and other benefits for millions of American workers and their families.

Chao v. Brandt
Civil Action Number: 1:09-cv-502

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