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Cincinnati, Ohio - The U.S. Department of Labor has obtained a settlement requiring that $3,050,520 in pension assets be distributed to 702 participants of a 401(k) plan abandoned by Forest City Auto Parts Company, Solon, Ohio.

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Scranton, Pennsylvania - The U.S. Department of Labor sued the trustee of the Kingston, Pennsylvania-based Penn Patio 401(k) Profit Sharing Plan for imprudently investing a substantial portion of the plan’s assets in speculative stock.

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Washington, DC - The U.S. Department of Labor has obtained settlement agreements providing for restitution of $4,312,063 to 10 pension and health plans in Arizona, Colorado, Minnesota and Ohio that invested plan assets in risky private placement schemes with Capital Consultants, LLC. The consent orders also require payment of $862,413 in civil penalties to the government.

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Atlanta, Georgia - The U. S. Department of Labor has filed suit against H&H Doors and Hardware Inc., Dothan, Alabama, and its former vice president, for misusing $1,216,232 in assets from the company retirement plan.

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New York, New York - The U.S. Department of Labor has sued to obtain court appointment of an independent fiduciary to manage the abandoned 401(k) plan of Maksteel Inc. The suit also asks to distribute $44,020 to eligible participants and to terminate the plan.

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Seattle, Washington - The U.S. Department of Labor will hold a workshop April 18 at the Henry Jackson Federal Building to help employers and pension plan administrators comply with federal pension law.

Archived News Release — Caution: Information may be out of date.

Archived News Release — Caution: Information may be out of date.

San Francisco, California - The U.S. Department of Labor has sued Corona-based WesTech Solutions Corp. and its president, Donald Cantral, to restore employee contributions not remitted to the company’s 401(k) plan.

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Portland, Oregon - The Department of Labor has obtained a consent judgment restoring nearly $48,000 to the 401(k) profit sharing plan of now-closed Moore Communications, Beaverton, Oregon.

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WASHINGTON - Secretary of Labor Elaine L. Chao today released the following statement upon passage of Association Health Plan legislation in the House of Representatives:

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San Francisco, California - Francis Clisham has been named regional director of the San Francisco Office of the Employee Benefits Security Administration (EBSA), the U.S. Department of Labor announced today.

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Washington, DC - Today Secretary of Labor Elaine L. Chao announced the appointment of five new members for the 2005 Advisory Council on Employee Welfare and Pension Benefit Plans. The new members will serve three-year terms.

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Washington, DC - Each year approximately 1,650 401(k) plans holding $868 million in assets and covering 33,000 workers are abandoned. Today, the U.S. Department of Labor announced proposed rules to allow financial institutions to take responsibility for these plans and distribute the plans’ assets to workers and their families.

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

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

Atlanta, Georgia - The former chief executive officer and 401(k) plan trustee of defunct Innopet Brands Corporation, Ft. Lauderdale, Florida, have agreed to restore $12,500 as restitution for their failure to forward employee contributions to the company’s 401(k).

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Newark, New Jersey - The U.S. Department of Labor filed a lawsuit to appoint an independent fiduciary for Paramus, New Jersey-based Medserv Corporation’s 401(k) Savings & Profit Sharing Plan after the plan was abandoned by its trustee. The independent fiduciary will terminate the plan and distribute the plan’s assets to participants.

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San Francisco, California - The U.S. Department of Labor has filed a lawsuit alleging the president of a Diamond Bar, California, mortgage lender withdrew employees’ contributions from the company’s 401(k) plan and failed to return the money to the plan participants.

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Atlanta, Georgia - The owners of defunct Galloway Trucking, Inc. in Monroe, North Carolina agreed to restore $27,766.91 to the company’s retirement plan as restitution for failure to remit employee contributions and loan repayments to the plan.

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

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

Atlanta, Georgia - The U.S. Department of Labor sued RW Construction Inc., Hoschton, Georgia, and its owner to recover more than $12,132.44 in employee contributions owed to the company’s SIMPLE IRA Plan. The suit charged Ronald B. Woodward and his company with failure to timely remit assets to the plan and allegedly using the money to pay corporate expenses.