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News Brief
US Labor Department files lawsuit to appoint an independent fiduciary to distribute approximately $630,000 from retirement plan in Dewitt, IA
Date of Action: Dec. 4, 2015
Type of Action: Complaint
Name of Defendant: Community Care Inc. 403(b) Retirement Plan in Dewitt, Iowa
Allegations: An investigation by the U.S. Department of Labor’s Employee Benefits Security Administration revealed that individuals with account balances totaling approximately $630,000 in the Community Care Inc. 403(b) Retirement Plan have been unable to access these account balances because the Plan has been abandoned, in violation of the Employee Retirement Income Security Act of 1974.
Resolution: The department seeks a court order appointing an independent fiduciary to distribute the funds in the retirement plan to the eligible individuals.
Court: U.S. District for the Southern District of Iowa, Davenport Division
Civil Action Number: 3:15-cv-00139
Information: Employers and workers can reach EBSA’s Kansas City office at 816-285-1800 or toll-free at 866-444-3272 for help with problems relating to private-sector retirement and health plans. Additional information can be found at www.dol.gov/ebsa/.