Solis v. J.M. Singley & Associates Inc. Complaint filed against defunct Media, Pa., company to protect workers’ 401(k) assets

Date of Action: Oct. 24, 2012

Name(s) of Defendant(s): J.M. Singley & Associates Inc.

Allegations: In 2009, J.M. Singley & Associates Inc., a Media, Pa.,-based company, established a 401(k) plan for its employees. An investigation conducted by the U.S. Department of Labor’s Employee Benefits Security Administration found that the company ceased operations in 2010 and failed to distribute all of the plan participants’ accounts from the 401(k) plan.  In addition, in 2012 the sole trustee of the plan was barred from serving as a fiduciary by order of the court in Solis v. Singley, et al., No. 2:11-CV-05175.  In total, there was $17,896.98 in plan assets to be distributed to eight participants.

Resolution: A complaint was filed in federal court against J.M. Singley & Associates Inc. The Department of Labor is seeking the appointment of an independent fiduciary with authority to administer and terminate the plan and to distribute plan assets to participants and beneficiaries.

Court: United States District Court for the Eastern District of Pennsylvania

Docket Number: 2:12-cv-6059-JS

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.