Los Angeles – The U.S. Department of Labor has obtained a contempt order against Kenneth Owen, the former president of the now-defunct Torrance, Calif.-based telecommunications company Communications 2000, for failing to pay restitution required under a 2006 consent judgment for unremitted employee contributions to two employee benefits plans that were sponsored by Communications 2000, as well as plan administrative fees.

Washington – The U.S. Department of Labor's Employee Benefits Security Administration (EBSA) today announced an amendment to an existing class exemption that expands the category of assets that can be accepted as settlement of litigation between employee benefit plans and related parties.

house asset managers

Washington – The U.S Department of Labor's Employee Benefits Security Administration is proposing to amend Prohibited Transaction Exemption (PTE) 96-23. PTE 96-23 is a class exemption that allows in-house managers of large employee benefit plans to engage in a wide range of transactions with related parties.

Fort Lauderdale, Florida – The U.S. Department of Labor’s Employee Benefits Security Administration is offering a free workshop for employee benefit plan professionals, including clients of plan service providers, on Thursday, June 24, at Nova Southeastern University, H. Wayne Huizenga School of Business and Entrepreneurship, Carl Desantis Building, 3301 College Avenue, Fort Lauderdale, Florida.

Washington – The U.S. Department of Labor today announced a final rule regarding certain requirements for qualified domestic relations orders (QDROs) under the Employee Retirement Income Security Act of 1974 (ERISA).

Washington – The U.S. Department of Labor’s Employee Benefits Security Administration will sponsor “Getting It Right – Know Your Fiduciary Responsibilities” webcasts on June 9 and 10. The webcasts are part of the agency’s national fiduciary education campaign to increase awareness and understanding of basic responsibilities associated with operating private sector retirement plans.

Lansdale, Pennsylvania – The U.S. Department of Labor has sued Michael G. Morgan, president of defunct Brandywine Mortgage Corp., for failure to remit employee contributions to the company's SIMPLE IRA plan in violation of the Employee Retirement Income Security Act.

Arlington – Business World Management Inc. of Arlington and its officers must restore $50,950 in plan assets and interest to the company's 401(k) plan under a consent judgment obtained by the U.S. Department of Labor. The company formerly operated as Breil Worldwide Management Inc.

Keasbey, New Jersey – The U.S. Department of Labor has sued to have an independent fiduciary appointed to oversee the abandoned 401(k) plan of Krajack Tank Lines Inc., a defunct company located in Keasbey.

"We took this action to protect the participants who entrusted their savings to the trustees of the plan," said Jonathan Kay, regional director of the department's Employee Benefits Security Administration in New York. "Employers have a legal obligation to properly manage retirement plans when a company goes out of business."

Valley View, Ohio – A federal district court in Cleveland, Ohio, has entered a consent order and judgment ordering the owner and president of Antares Group Inc. of Valley View to pay $13,063 in lost opportunity costs to the participants and beneficiaries of the company's 401(k) plan.

Birmingham, Alabama – The U.S. Department of Labor’s Employee Benefits Security Administration is offering a free workshop for employee benefit plan professionals, including clients of plan service providers, on Thursday, June 10, at the Birmingham Social Security Center, 1200 Rev. Abraham Woods Jr. Blvd. in Birmingham.

WASHINGTON — The U.S. Departments of Labor and Health and Human Services will hold the second meeting of the Medicaid, Children's Health Insurance Program and Employer Sponsored Coverage Coordination Working Group on June 14 in Washington at the Grand Hyatt, 1000 H St. NW.

The working group will meet from 9 a.m. to 5 p.m. EDT to hear public testimony from witnesses. The meeting is open to the public. The Children's Health Insurance Program Reauthorization Act of 2009 requires the departments to jointly establish the CHIP Working Group.

Washington – The U.S. Department of Labor’s Employee Benefits Security Administration (EBSA) will host a free webcast June 3 to answer questions from employers, plan administrators and service providers about the Form 5500, EFAST2 and the new e-signature options for electronic filing requirements that began with the 2009 plan year.

Buffalo, New York – The U.S. Department of Labor has obtained a default judgment appointing an independent fiduciary to manage the abandoned 401(k) plan of defunct Franbilt Inc., which was a steel fabrication plant located in Lockport, New York. The court also has ordered the former owner of the company, Thomas Barnes, to pay $145,094 in restitution to the plan.

Chicago – The U.S. Department of Labor filed a lawsuit in federal district court in Chicago, seeking the appointment of an independent fiduciary to terminate the Intercounty Title Company of Illinois retirement savings plan and to distribute more than $270,800 in assets to plan participants and beneficiaries.

Washington – The U.S. Department of Labor’s Employee Benefits Security Administration today announced that the EFAST2 electronic filing system for Forms 5500 and 5500-SF employee benefit plan annual reports has a new e-signature option. This option is designed to simplify the electronic filing process, especially for small businesses that use service providers to complete and file their annual reports.

Washington – Assistant Secretary of the Employee Benefits Security Administration Phyllis C. Borzi today issued the following statement regarding the Affordable Care Act:

"The Affordable Care Act lets young adults stay on their parents' health care plan until age 26. Before the President signed this landmark Act into law, many health plans and issuers could and did in fact remove young adults from their parents' policies because of their age, leaving many college graduates and others with no coverage.

Tacoma, Washington – The U.S. Department of Labor has sued Keith D. Vincent and Vincent’s Apartment Washer Service Inc. in the U.S. District Court for the Western District of Washington for allegedly using employee and employer contributions owed to the company’s savings incentive match plan for employees individual retirement account plan for the benefit of the company, in violation of the Employee Retirement Income Security Act.

Tulsa, Oklahoma – The U.S. Department of Labor’s Employee Benefits Security Administration and the Oklahoma Insurance Department will host a free health law compliance assistance seminar on May 19 and 20 in Tulsa at the Tulsa Technology Center, Lemley Campus, 3420 South Memorial Drive, Health Science Building, Room HSC 3117.

Washington — The U.S. Department of Labor’s Employee Benefits Security Administration (EBSA) and the U.S. Securities and Exchange Commission (SEC) today announced guidance to help investors and plan participants better understand the operations and risks of target date fund investments.