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Mabel Lum Capolongo, a native of Washington, D.C., has been named regional director of the U.S. Department of Labor’s Pension and Welfare Benefits Administration Office (PWBA) in Philadelphia.

The mission of the PWBA is to protect the integrity of pensions, health plans, and other employee benefits for more than 200 million people

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A former trustee of the Glasstream Boats, Inc. profit sharing plan in Nashville, Ga. was sentenced to six months in prison for embezzlement of more than $149,000 in plan assets for his own use. Adolphus L. Kirkland Jr. has already paid $149,557.11 in restitution to the plan.

The profit sharing plan covered 112 participants and had $298,839 in assets as of April 30, 1992. Kirkland was the sole trustee of the plan.

Archived News Release — Caution: Information may be out of date.

For more information call: (202) 219-8921

Today, Assistant Secretary of Pensions and Welfare Benefits Administration Olena Berg reminded employee benefit plan administrators and service providers of the need for action to address the looming Year 2000 software problem in order to protect workers' benefits as the century turns.

Archived News Release — Caution: Information may be out of date.

For more information call: (202) 219-8921

Secretary of Labor Alexis M. Herman today appointed seven new members to the Advisory Council on Employee Welfare and Pension Benefit Plans to represent various sectors of the employee benefit industry.

Archived News Release — Caution: Information may be out of date.

For more information call: (202) 219-8921

The Department of Labor announced today that, in response to public comments, the implementation of the streamlined Form 5500 Annual Return/Report is being delayed until the 1999 plan year to give plans and their service providers more time to prepare for the new form.

Archived News Release — Caution: Information may be out of date.

The U.S. Department of Labor has filed a lawsuit against a Columbus, Oh., corporation and its plan trustees for failing to promptly remit the money withheld from employees' paychecks into the 401(k) plan's investment accounts.

Archived News Release — Caution: Information may be out of date.

The president and owner of Employee Health Plan Administrators, Inc. of Westbury, N.Y. pleaded guilty to one count each of embezzlement and mail fraud in connection with employer contributions he failed to remit to the health and welfare plans of local 119 of the Brotherhood of Industrial Workers in New York City.

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A U.S. federal judge today ordered Blue Cross/Blue Shield of Massachusetts to repay $10 million to participants in and sponsors of private-sector health plans covered under the Employee Retirement Income Security Act(ERISA).

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Tiger Lee Construction Company of Andover, Connecticut, as well as Eugene Sammartino and Christine Sammartino, as owners of the company, have been sued by the U.S. Department of Labor to recover misused assets of the company's two employee pension plans.

Archived News Release — Caution: Information may be out of date.

The U. S. Department of Labor filed a lawsuit yesterday against the owner of Computer Software Analysts, Inc., based in Inglewood, Calif., for failing to transmit employer and employee contributions to the company’s 401(k) plan.

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The sponsor and trustees of the Dick DeRoberts & Co. Pension Plan in Columbus, Oh., were ordered to pay $41,577.31 in additional benefits to participants for improperly amending plan documents in a manner that adversely affected the participants in violation of federal pension law, according to a consent order and judgment obtained by the U.S. Department of Labor.

Archived News Release — Caution: Information may be out of date.

For more information call: (202) 219-8921

The U.S. Department of Labor today announced a new procedure state-registered investment advisers must follow in order to obtain investment manager status under federal pension law.

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A Macksburg, Ohio businessman, Paul M. Hetrick, was sentenced today to two years of probation and 4 months’ home incarceration by electronic monitoring. Hetrick has agreed to make full restitution of $23,310 to the plans.

Archived News Release — Caution: Information may be out of date.

Archived News Release — Caution: Information may be out of date.

Contact Name: Sharon Morrissey
Phone Number: 202.219.8921

The U.S. Department of Labor has issued a final rule governing the timing of deposits by employers of participant contributions to Savings Incentive Match Plans for Employees (SIMPLE plans) involving Individual Retirement Accounts (IRAs).

Archived News Release — Caution: Information may be out of date.

Archived News Release — Caution: Information may be out of date.

For more information call: 202/219-8211

President Bill Clinton has signed into law the Savings Are Vital to Everyone Retirement Act of 1997, known as the "SAVER Act." The SAVER Act will promote awareness of the importance of retirement savings through a series of outreach programs to be spearheaded by the U.S. Department of Labor.

Archived News Release — Caution: Information may be out of date.

Archived News Release — Caution: Information may be out of date.

Archived News Release — Caution: Information may be out of date.