US Department of Labor files suit to remove fiduciary, terminate defunct Carr Freight Systems Inc. 401(k) Plan in Eagan, Minnesota

Date of Action: Nov. 13, 2015

Type of Action: Filing of a Complaint

Names of Defendant: Carr Freight Systems Inc., Carr Freight Systems Inc. 401(k) Plan

Allegations: The department alleges that from Jan. 1, 2001, through the present, Carr Freight Systems Inc. was the sponsor and administrator of the Carr Freight Systems Inc. 401(k) Plan. The company ceased operating in 2002 and failed to terminate the plan in violation of the Employee Retirement Income Security Act.

As of March 31, 2013, the plan had two participants and $1,723.38 in assets.

Resolution: The complaint seeks an order permanently removing Carr Freight Systems as fiduciary to the plan. It also requests the court to appoint an independent fiduciary to terminate the plan and distribute the plan's assets to participants and beneficiaries.

Court: United States District Court for the District of Minnesota

Docket Number: 15-cv-4110

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 http://www.dol.gov/ebsa/.