Harris v. William Bowman, et al., involving consent judgment against land improvement company in West Berlin, NJ

Date of Action: April 25, 2013

Name(s) of Defendant(s): William Bowman and William Bowman Associates Inc. profit sharing 401(k) plan

Allegations: In 1985, William Bowman Associates Inc., a West Berlin, N.J.,-based land improvement company, established the William Bowman Associates Inc. profit sharing 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 filed for bankruptcy in 2007 and ceased operations in 2009.  In addition, the investigation found several violations of the Employee Retirement Income Security Act by plan trustee William Bowman, who used his position to make a series of unsecured loans totaling $188,325 to related parties.  

Resolution: The U.S. Department of Labor has obtained a consent judgment ordering Bowman to restore $188,325 to the company’s 401(k) plan through monthly installments over the next 10 years, and the appointment of an independent fiduciary for the plan. Under the judgment, the defendants are permanently enjoined from acting as a fiduciary or service provider to any plan covered by the ERISA.

The judgment resolves a lawsuit filed by the department in March.

Court: United States District Court for the District of New Jersey

Docket Number: 13-cv-01716

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.