Perez v. Robert “Mack” and Sharon Durham involving judgment of Palmetto Family Medical Group P.C.’s 401(k) Profit Sharing Plan in Williamston, SC

Date of Action: April 18, 2014

Type of Action: Consent Judgment and Order

Name(s) of Defendant(s): Robert Mack Durham, Sharon Kaye Durham, Palmetto Family Medical Group Inc.

Allegations: In January 2004, Palmetto Family Medical Group, P.C., a chiropractic practice based in Williamston, South Carolina established a 401(k) profit sharing plan for its employees. For the periods May 2004 through January 2008, the defendants failed to timely remit both employee and employer contributions to the plan, and failed to terminate the plan and distribute plan account balances to all participants.

Resolution: The judgment orders the defendants to make restitution to the plan participants for unremitted and outstanding employer and employee contributions owed to the plan, to include interest on those amounts, totaling $47,567.63. Furthermore, the defendants must ensure distributions are made to all participants in the plan holding account balances. The Durhams are permanently enjoined from acting as a fiduciary to any employee benefit plan subject to the Employee Retirement Income Security Act, except as required to fulfill the terms of the consent judgment and order.

Court: United States District Court for the District of South Carolina, Anderson Division

Docket Number: 8:13-cv-00522 MGL

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