Department of Labor files complaint to remove fiduciaries of Specialty Staff Inc. 401(k) Plan in Carmel, Ind.

Date of Action: July 2, 2013

Type of Action: Complaint

Names of Defendant: Theresa A. Hellman and Robin M. Polin, individually and as fiduciaries of the Specialty Staff, Inc. 401(k) Plan; Specialty Staff Inc.; and the Specialty Staff Inc. 401(k) Plan located in Carmel, Ind.

Allegations: As fiduciaries of the Plan, defendants Specialty Staff Inc., Hellman, and Polin did not assure that the Plan was properly administered.  Annual Reports Form 5500 were not timely filed, administrative expenses on behalf of the Plan were not paid, and no actions were taken to ensure the affairs of the Plan were properly administered after Specialty Staff, Inc. ceased doing business in or around December 2010.

As of Sept. 13, 2012, the records maintained by the Plan’s asset custodian showed that the Plan had 13 participants with assets totaling $44,044.23.

Resolution: The Department of Labor is asking the court to remove defendants Specialty Staff Inc., Hellman, and Polin as fiduciaries of the Plan and that an independent fiduciary be appointed to replace them in order to complete the Plan’s administration, including the distribution of participants’ and beneficiaries’ interests, and then terminate the Plan.

Court: United States District Court for the Southern District of Indiana

Docket Number: 1:13-cv-01056

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.