Judge orders Dr. Rickey Gene Love to allow his interest to be redistributed to other participants in Otorhinolaryngology Associates Profit Sharing Plan in Montgomery, Ala

Date of Action:  Sept. 30, 2011

Type of Action:  Consent judgment and order

Name(s) of Defendant: Otorhinolaryngology Associates, P.C., Otorhinolaryngology Associates, P.C. Profit Sharing Plan, and Dr. Rickey Gene Love

Allegations: Defendants Love and OTO breached their fiduciary duties with respect to the plan by failing to discharge their duties under the plan and by violating provisions of §§ 404(a)(1)(A), 404(a)(1)(B) and 405(a)(1)(C) of the Employee Retirement Income Security Act of 1974, 29 U.S.C. §§ 1104(a)(1)(A), 1104(a)(1)(B) and 1104(a)(1)(C), as set forth in the Complaint.

Resolution:  The court ordered the defendants permanently enjoined and restrained from violating the provisions of Title I of ERISA. Defendant Love is permanently enjoined from acting as a fiduciary, trustee, agent or representative in any capacity to any employee benefit plan as defined by ERISA. Defendant Rickey Gene Love agrees to allow any participant interest he may have in any existing or future assets of the plan to be applied as an offset against the amounts that the Secretary has alleged are due to the plan. Mrs. Candace Jones Love waives any claims she may have for her spouse’s benefits under the plan with respect to her spouse’s account, which will be redistributed to other participants. Mrs. Candace Jones Love agrees to allow any participant interest she may have in any existing or future assets of the plan to be applied as an offset against the amounts that the Secretary has alleged are due to the plan. Jeanne B. Bryant is appointed as successor fiduciary for the plan at the cost to the defendants.

Court: U.S. District Court, Middle District of Alabama, Northern Division

Docket Number: Solis v. Otorhinolaryyngology Associates, P.C., 2:11cv822-WKW

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.