Judge appoints AMI Benefit Plan to administer LFAC Inc. Profit Sharing 401(k) Plan and distribute assets to qualified participants

Date of Action: Oct. 3, 2012

Type of Action: Consent order and judgment

Names of Defendant: LFAC Inc. Profit Sharing 401(k) Plan

Allegations: LFAC, Inc. was acquired by the General Castings Company in approximately 1996.  Subsequently, General Castings Company served as the plan’s sponsor and administrator.  The plan was abandoned when General Castings Company ceased doing business in 2004.

Resolution: The Consent Judgment and Order removed the prior plan fiduciaries and appointed AMI Benefit Plan Administrators, Inc., as the independent fiduciary to the Plan with the responsibility to liquidate the Plan’s assets to participants and terminate the plan.

Court: United States District Court for the Northern District of Ohio, Cleveland, Ohio.

Docket Number: 1:12-cv-01462

Employers and workers can reach EBSA toll-free at 866-444-3272 for help with problems related to private sector retirement and health plans.  Additional information can be found at www.dol.gov/ebsa.

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.