Solis v. Open Webs Corp. 401(k) Profit Sharing Plan

Date of Action: June 13, 2011

Name(s) of Defendant(s): The Open Webs Corp.

Allegations

On or about April 1, 2000, Open Webs Corp., based in Pittsburgh, Pa., established a 401(k) plan for its employees.  During the course of an investigation conducted by the Department of Labor’s Employee Benefits Security Administration, the agency found that the company ceased operations in or near 2006.  The investigation also found that since that time, the company had not taken any steps to properly administer the plan and distribute benefits to participants.  As a result, nine former employees could not receive pension benefits totaling approximately $46,048.38.  On Jan. 19, 2011, the Labor Department filed a complaint in the U.S. District Court for the Western District of Pennsylvania seeking the appointment of an independent fiduciary for purposes of terminating the plan and distributing its remaining assets.

Resolution

On May 25, 2011, United States District Judge Gary Lancaster ordered that Open Webs Corp. be removed from its fiduciary position and appointed an independent fiduciary to administer the 401(k) plan and distribute plan benefits to participants.

Court: United States District Court for the Western District of Pennsylvania
Docket Number: 11-00076-GLL

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U.S. Department of Labor materials are accessible at www.dol.gov.  The information above is available in large print, Braille, audio tape or disc from the COAST office upon request by calling 202-693-7828 or TTY 202-693-7755.