US Labor Department files lawsuit to recover $80K in missing plan assets from J.E. Keever Mortuary Inc. in Ennis, Texas

Date of Action:  Jan. 15, 2016

Type of Action: U.S. Department of Labor filed a lawsuit against J.E. Keever Mortuary Inc. in Ennis, Texas, and its principal owner to recover $80,000 in missing retirement funds affecting five employees.

Name(s) of Defendant: J.E. Keever Mortuary Inc., David Keever and J.E. Keever Inc.’s SIMPLE IRA Plan.

Allegations: An investigation by the Labor Department’s Employment Benefits Security Administration revealed that beginning January 2010, J.E. Keever Inc. and David Keever began withholding employee contributions but failed to remit those contributions and mandatory employer matching contributions to the SIMPLE IRA Plan accounts of the company’s employees.

Resolution: The Labor Department seeks a court order requiring the restoration of all plan losses and barring David Keever from serving as a fiduciary to any other employee benefit plan.

Quote:  “The fiduciaries had a duty to manage and protect the employees’ benefit plans and their assets, yet they failed to do so,” said Deborah Perry, director of EBSA’s Dallas Regional Office, which investigated this case. “The department will take every action necessary to restore plan assets that were not properly preserved for the company’s workers.”

Information:  Employers and workers can reach EBSA’s Dallas office at 972-850-4500 or toll-free at 866-444-3272 for help with problems relating to private-sector retirement and health plans.

Court: U.S. District Court for the Northern District of Texas

Docket Number: 3:16-cv-00120-L