Harris v. Jeremy B. Williams default judgment involving Williams Construction and Masonry Contractors Inc. profit sharing plan in Kentucky

Date of Action: July 1, 2013

Type of Action: Default Judgment

Name(s) of Defendant(s): Jeremy Williams, individually and as a fiduciary to Williams Construction and Masonry Contractors Inc. profit sharing plan; Williams Construction and Masonry Contractors Inc. and Williams Construction and Masonry Contractors Inc. profit sharing plan.

Allegations: Jeremy Williams, individually and as a fiduciary to the plan, and Williams Construction and Masonry Contractors Inc. failed to remit $8,004.31 in participant contributions to the plan from Jan. 5, 2007 to Nov. 20, 2009. Furthermore, Jeremy Williams, individually and as a fiduciary to the plan and Williams Construction and Masonry Contractors Inc. failed to timely remit participant contributions to the plan from Jan. 5, 2007 to Nov. 20, 2009.

Resolution: The judgment orders the defendants to restore all losses to the plan, including lost opportunity costs of $2,194.55, resulting from their fiduciary breaches. Payment to the plan shall be made directly by the defendants or from a reallocation of defendant Williams' plan account. The judgment also permanently bars Jeremy Williams, and Williams Construction and Masonry Contractors Inc. from serving as a fiduciary or service provider to any Employee Retirement Income Security Act covered employee benefit plan. The judgment appoints AMI Benefit Plan Administrators as the independent fiduciary for the plan, and the fees for the independent fiduciary are to be paid from the plan account of Williams.

Court: United States District Court for the Western District of Kentucky

Docket Number: 5:12-cv-00142

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