Judge appoints independent fiduciary to terminate Subspecialty Centers of America 401(K) Plan and Trust and distribute assets to former employees

Date of Action:  Aug. 18, 2011

Type of Action:  Judgment

Names of Defendants: Subspecialty Centers of America LLC in Merriville, Ind. and the company’s owner, Mark S. Weinberger.

Allegations: Subspecialty Centers of America LLC in Merriville and Weinberger, allegedly failing to administer and terminate the Subspecialty Centers of America LLC 401(k) Plan and Trust in violation of the Employee Retirement Income Security Act.

Weinberger failed to terminate the company’s 401(k) plan and trust, which has prevented qualified participants from obtaining distributions of their individual account balances. The company ceased operations in 2004.  As of Dec. 31, 2008, the plan and trust had four participants and assets of $33,607.

Resolution: The court has appointed, AMI Benefit Plan Administrators, Inc., to distribute the assets to qualified participants, and to terminate the plan and trust.  Additionally, the court has permanently bared Subspecialty Centers of America LLC and Weinberger from serving as a fiduciaries or service providers to any ERISA-covered employee benefit plan in the future.

Court: Northern District of Indiana, Hammond, Ind.

Docket Number: Solis v. Weinberger, Subspecialty Centers of America LLC, 2:11-cv-00120

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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.