U.S. Labor Department obtains judgment restoring more than $50,000 in retirement assets to Arlington, Va., 401(k) plan

Arlington – Business World Management Inc. of Arlington and its officers must restore $50,950 in plan assets and interest to the company's 401(k) plan under a consent judgment obtained by the U.S. Department of Labor. The company formerly operated as Breil Worldwide Management Inc.

The judgment resolves the department's lawsuit filed against Robert Cook, Ezra Cummings and the company for failure to remit employee contributions to the plan in violation of the Employee Retirement Income Security Act. The judgment was filed in the U.S. District Court for the Eastern District of Virginia, Alexandria Division.

"Corporations and their executives who are plan fiduciaries have a duty to protect the retirement assets of participants," said Mabel Capolongo, regional director of the department's Employee Benefits Security Administration in Philadelphia, Pa. "The Department of Labor will hold employers accountable when they fail to meet this obligation."

The action resulted from an investigation conducted by EBSA's Washington District Office. Employers and workers with questions or concerns regarding their private sector pension and health plans can reach that office at 202.693.8700 or toll free at 866.444.3272. Information is also available on the agency's website at http://www.dol.gov/ebsa.

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

Solis v. Robert Cook, et al.
Civil Action Number: 1:10-cv-00510-LMB-IDD

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