US Labor Department recovers $30K in missing retirement contributions from Houston area graphic design and printing company

Date of Action: July 16, 2015

Type of Action: Consent judgment and order with Mercury Signs & Display LTD and its owners Travis Hoffart and Ted Hoffart, Jr., in an effort to recover about $30,000 in employee retirement contributions.

Name of Defendant: Mercury Signs & Display LTD and its owners Travis Hoffart and Ted Hoffart, Jr.

Allegations: The U.S. Department of Labor has entered into a consent judgment and order with Mercury Signs & Display LTD and its owners Travis Hoffart and Ted Hoffart, Jr., in an effort to recover approximately $30,000 in employee retirement contributions. The department's lawsuit alleged that the Hoffarts and their company violated the Employee Retirement Income Security Act of 1974 by using assets belonging to the employee retirement plan to run their business. At the time of the violations, 10 employee participants were affected by the missing retirement contributions totaling more than $55,000. Following the investigation by the Employee Benefits Security Administration, the company and its owners restored more than $18,000 to the plan participants. By entering into the consent judgment and order, the department seeks to ensure that the company and its owners restore all outstanding plan losses with interest.

Resolution: The department obtained a consent judgment and order with Mercury Signs & Display LTD and its owners Travis Hoffart and Ted Hoffart, Jr., that results in the recovery of approximately $30,000 in employee retirement contributions.

Court: The United States District Court for the Southern District of Texas, Houston Division

Civil Action Number: 4:15-cv-02003