Cherry Hill, N.J. – The U.S. Department of Labor has filed a lawsuit to obtain appointment of an independent fiduciary to oversee the 401(k) plan of ABC Wireless Inc., a defunct company formerly located in Cherry Hill.

"Jeopardizing workers' retirement savings will not be tolerated by the Labor Department," said Mabel Capolongo, director of the department's Employee Benefits Security Administration (EBSA) in Philadelphia. "Employers cannot abandon 401(k) plans when a company goes out of business."

Washington – The U.S. Department of Labor's Employee Benefits Security Administration (EBSA) today announced a proposed exemption that, if granted, would allow the New Chrysler Corp. to transfer approximately $4.59 billion promissory note and company securities to a Voluntary Employees Benefit Association (VEBA) Plan established to provide health benefits for the company's retirees. The retiree health plan would cover about 120,000 retirees and dependents when it becomes effective on Jan. 1, 2010.

Individuals’ genetic information will have greater protections through new regulations issued today by the U.S. Departments of Health and Human Services (HHS), Labor, and the Treasury.

The interim final rule will help ensure that genetic information is not used adversely in determining health care coverage and will encourage more individuals to participate in genetic testing, which can help better identify and prevent certain illnesses.

NEWPORT NEWS, Va. — The U.S. Department of Labor has obtained a consent judgment requiring NFL player Michael D. Vick and his company, MV7 LLC, to repay at least $416,461.10 in restitution to a pension plan sponsored by the company and ordering Vick to forfeit any rights to benefits from the plan. The defendants also agreed to pay a civil monetary penalty imposed by the Labor Department.

Atlanta – The U.S. Department of Labor’s Employee Benefits Security Administration (EBSA) has obtained a consent judgment allowing Abby Paschal to continue as a fiduciary in order to terminate the ZNET Financial Services’ 401(k) plan and distribute its assets to participants.

Boston – The U.S. Department of Labor has sued the former chief executive officer of defunct F & F Industries Inc., formerly of Centerbrook, Connecticut, for alleged misuse of approximately $63,800 of assets of the company’s 401(k) plan and for failure to collect more than $81,000 in employer contributions for employees who worked on jobs covered by the Connecticut state prevailing wage laws.

Atlanta – The U.S. Department of Labor has sued Floyd Seibert for violations of the Employee Retirement Income Security Act (ERISA).

Filed in the U.S. District Court for the Middle District of Florida, the complaint alleges that the defendant violated his fiduciary responsibilities when he failed to discharge his duties with respect to the Central Home Care Services 401(k) pension plan by engaging in prohibited transactions.

Washington – The Advisory Council on Employee Welfare and Pension Benefit Plans (known as the ERISA Advisory Council) will convene by teleconference September 29 to discuss reports and recommendations on topics to be submitted to the secretary of labor.

Twinsburg, Ohio – The U.S. Department of Labor has sued the former president and fiduciary to the 401(k) retirement plan of Precision Funding Corp., a mortgage broker, for improperly using plan assets withheld from employees’ pay for the benefit of the company, in violation of the Employee Retirement Income Security Act (ERISA).

Washington - The U.S. Department of Labor’s Employee Benefits Security Administration (EBSA) today released Field Assistance Bulletin (FAB) 2009-03 that describes the circumstances under which a participant-directed individual account plan may satisfy the prospectus delivery requirements of section 404(c) of the Employee Retirement Income Security Act by furnishing a “Summary Prospectus” pursuant to requirements established by the Securities and Exchange Commission (SEC).

New York - The U.S. Department of Labor has filed a lawsuit in U.S. District Court for the Western District of New York seeking the appointment of an independent fiduciary to oversee the abandoned 401(k) plan of defunct Digitel Solutions for Business Inc. or Empire Telecom Systems Corp., formerly located in Buffalo, New York .

Washington —The U.S. Department of Labor has proposed a regulation to assess civil penalties against plan sponsors of multiemployer defined benefit pension plans that fail to adopt a funding improvement or rehabilitation plan in accordance with the Employee Retirement Income Security Act (ERISA) as amended by the Pension Protection Act (PPA).

New York – The U.S. Department of Labor’s Employee Benefits Security Administration (EBSA) will hold a free workshop on September 24 from 10 a.m. to 1 p.m. EDT to help employers, the employee benefit community and others better comply with federal pension law. The workshop will be held at Plaza 35, 1030 St. George’s Avenue, Suite 205 in Avenel, New Jersey.

Washington – The Advisory Council on Employee Welfare and Pension Benefit Plans (also known as the ERISA Advisory Council) will hold meetings September 15 through 17 in Washington, D.C., at the U.S. Department of Labor, 200 Constitution Avenue N.W., Room N-3437A-B.

Coshocton, Ohio – The U.S. Department of Labor has sued an officer and fiduciary to the savings incentive match plan for employees individual retirement account (SIMPLE IRA) plan of Pharmaceutical Alternatives Inc. of Coshocton for improperly using plan assets withheld from employees’ pay for the benefit of the company as well as other violations of the Employee Retirement Income Security Act (ERISA). The company also does business as Three Rivers Infusion Option Care.

New York - The U.S. Department of Labor has filed a lawsuit asking the U.S. District Court for the Eastern District of New York to appoint an independent fiduciary to oversee the abandoned 401(k) plan of defunct Community Home Mortgage Corp., formerly located in Melville, New York.

Pittsburgh – The U.S. Department of Labor has sued Patrick P. Bane, president of defunct Comtel Communications, to recover employee contributions owed to the company’s 401(k) retirement plan.

Boston – The U.S. Department of Labor has obtained a default judgment appointing Corporate Benefits Co. (CORBCO) of Boston, Massachusetts, as the independent fiduciary to manage the abandoned 401(k) plan of defunct TRITECH Information Strategies Inc., formerly of Kennebunk, Maine.

Atlanta – The U.S. Department of Labor has sued ZNET Financial Services, Abby Paschal and Farbod Zohouri for violating provisions of the Employee Retirement Income Security Act (ERISA).

Somerset, Pennsylvania — A federal district court has found James Sujansky, trustee of the Super City Sports Sales Inc. 401 (k) Profit Sharing Plan, in contempt of court for failing to comply with a court order directing him to produce documents subpoenaed during an investigation by the U.S. Department of Labor’s Employee Benefits Security Administration (EBSA).