Judge appoints independent fiduciary to distribute more than $16,000 in assets of Polaris America LLC 401(k) Profit Sharing Plan in Columbus, Ohio

Date of Action: Nov. 4, 2013

Type of Action: Consent Order and Judgment

Names of Defendant: Polaris America LLC; Christopher Filos; and the Polaris America LLC 401(k) Profit Sharing Plan

Allegations: As fiduciaries of the Plan, defendants Polaris America LLC and Christopher Filos failed to administer the Plan resulting in participants not being able to obtain distributions of their individual Plan accounts.  The plan had three participants and assets totaling $16,072.37 as of June 2013.

Resolution: The Department of Labor filed a civil complaint on July 29, 2013, for the defendant’s failure to administer the Plan.  The defendants agreed to a consent order and judgment which: permanently enjoins them  from violating any provisions of Title I of ERISA; removes them from serving as fiduciaries to the Plan; permanently enjoins them from serving or acting as fiduciaries or service providers to any Employee Retirement Income Security Act-covered employee benefit plan; and appoints an independent fiduciary to administer the Plan and distribute the assets to participant.

Court: United States District Court for the Southern District of Ohio, Columbus, Ohio.

Docket Number: 2:13-cv-00749

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.