November 20, 2012

Obama administration moves forward to implement health care law, ban discrimination against people with pre-existing conditions

Washington – The Obama administration moved forward today to implement provisions in the health care law that would make it illegal for insurance companies to discriminate against people with pre-existing conditions. The provisions of the Affordable Care Act also would make it easier for consumers to compare health plans, and employers to promote and encourage employee wellness.

November 19, 2012

NEW DATES: ERISA Advisory Council to hold final 2012 meeting Nov. 26-27

WASHINGTON — Due to a postponement caused by Hurricane Sandy, the final meeting of the year of the Advisory Council on Employee Welfare and Pension Benefit Plans, known as the ERISA Advisory Council, has been rescheduled for Nov. 26-27 at U.S. Department of Labor locations in Washington, D.C. 20210.

November 13, 2012

US Labor Department recovers nearly $220 million for Madoff victims

NEW YORK — The U.S. Department of Labor today announced a settlement that includes the payment of nearly $220 million to compensate employee benefit plans and other investors that suffered losses through investments in Bernard L. Madoff's Ponzi scheme. The settlement is pending approval by the U.S. District Court for the Southern District of New York and resolves department litigation, actions brought by New York's attorney general, and several private lawsuits and class actions brought on behalf of plans and other investors that invested with Madoff.

November 5, 2012

Solis v. Smart Technology Inc., et. al. Default judgment against Annandale, Va., company to protect workers’ 401(k) assets

Date of Action: Oct. 11, 2012

Name(s) of Defendant(s): Shawn Hedgspeth, Smart Technology Inc. and the Smart Technology 401(k) plan

Allegations: In 2005, Smart Technology Inc., an Annandale, Va.,-based company, established a 401(k) plan for its employees.  An investigation conducted by the U.S. Department of Labor’s Employee Benefits Security Administration found that the company failed to remit employee contributions to the plan from 2007 through 2009.

October 31, 2012

Solis v. J.M. Singley & Associates Inc. Complaint filed against defunct Media, Pa., company to protect workers’ 401(k) assets

Date of Action: Oct. 24, 2012

Name(s) of Defendant(s): J.M. Singley & Associates Inc.

October 30, 2012

Solis v. J.M. Singley & Associates Inc. Complaint filed against defunct Media, Pa., company to protect workers’ 401(k) assets

Date of Action: Oct. 24, 2012

Name(s) of Defendant(s): J.M. Singley & Associates Inc.

October 24, 2012

US Department of Labor files complaint to restore funds to Grand Craft LLC 401(k) Plan in Grand Rapids, Mich.

Date of Action: Oct. 23, 2012

Type of Action: Complaint

Name of Defendants: Timothy Masek and Grand Craft, LLC as fiduciaries to the Grand Craft, LLC 401(k) Plan

Allegations: Timothy Masek and Grand Craft, LLC as fiduciaries to the Grand Craft, LLC 401(k) Plan

October 24, 2012

US Department of Labor files complaint to restore funds to Grand Craft LLC 401(k) Plan in Grand Rapids, Mich.

Date of Action: Oct. 23, 2012

Type of Action: Complaint

Name of Defendants: Timothy Masek and Grand Craft, LLC as fiduciaries to the Grand Craft, LLC 401(k) Plan

Allegations: Timothy Masek and Grand Craft, LLC as fiduciaries to the Grand Craft, LLC 401(k) Plan

October 18, 2012

Judge appoints independent fiduciary to administer abandoned 401(k) profit sharing plan of Winer Industries Inc. in Paterson, N.J.

Date of Action: Oct. 11, 2012

Type of Action: Order and judgment

Name(s) of Defendant: Winer Industries Inc. 401(k) profit sharing plan

October 18, 2012

Judge appoints independent fiduciary to administer abandoned 401(k) profit sharing plan of Winer Industries Inc. in Paterson, N.J.

Date of Action: Oct. 11, 2012

Type of Action: Order and judgment

Name(s) of Defendant: Winer Industries Inc. 401(k) profit sharing plan

October 15, 2012

US Department of Labor files suit to terminate Nutrition Clinic 401(k) Plan in Rockford, Ill., and provide funds to participants

Date of Action: Oct. 10, 2012

Type of Action: Complaint

Names of Defendant: Gautam Gupta, Nutrition Clinic 401(k) Plan

October 15, 2012

US Department of Labor files suit to terminate Nutrition Clinic 401(k) Plan in Rockford, Ill., and provide funds to participants

Date of Action: Oct. 10, 2012

Type of Action: Complaint

Names of Defendant: Gautam Gupta, Nutrition Clinic 401(k) Plan

October 15, 2012

Judge orders fiduciary to restore more than $6,300 to ECS Web Employees 401(k) Plan & Trust in Auburn Hills, Mich.

Date of Action: Oct. 15, 2012

Type of Action: Consent order and judgment

Names of Defendant: Robert Fassanella, individually and as a fiduciary to the ECS Web Employees 401(k) Plan & Trust; ECS Web Employees 401(k) Plan & Trust

October 15, 2012

Judge orders fiduciary Ronald Bloomgren to restore more than $19,000 to the Earmold Design, Inc. 401(k) Savings Plan in Minneapolis, Minn.

Date of Action: Oct. 15, 2012

Type of Action: Judgment

Name of Defendants: Ronald Bloomgren, individually and as a fiduciary to the Earmold Design 401(k) Savings Plan

October 15, 2012

Judge orders fiduciary to restore more than $6,300 to ECS Web Employees 401(k) Plan & Trust in Auburn Hills, Mich.

Date of Action: Oct. 15, 2012

Type of Action: Consent order and judgment

Names of Defendant: Robert Fassanella, individually and as a fiduciary to the ECS Web Employees 401(k) Plan & Trust; ECS Web Employees 401(k) Plan & Trust

October 15, 2012

Judge orders fiduciary Ronald Bloomgren to restore more than $19,000 to the Earmold Design, Inc. 401(k) Savings Plan in Minneapolis, Minn.

Date of Action: Oct. 15, 2012

Type of Action: Judgment

Name of Defendants: Ronald Bloomgren, individually and as a fiduciary to the Earmold Design 401(k) Savings Plan

October 11, 2012

US Department of Labor files complaint to restore loss to T.S. Randall Company, LLC Retirement Savings Plan in Columbus, Ohio

Date of Action: Oct. 5, 2012  

Type of Action: Complaint

Name of Defendant: Tracy S. Randall, T.S. Randall Company LLC, T.S. Randall Company LLC Retirement Savings Plan

October 11, 2012

US Department of Labor files complaint to restore loss to T.S. Randall Company, LLC Retirement Savings Plan in Columbus, Ohio

Date of Action: Oct. 5, 2012  

Type of Action: Complaint

Name of Defendant: Tracy S. Randall, T.S. Randall Company LLC, T.S. Randall Company LLC Retirement Savings Plan

October 9, 2012

Judge appoints AMI Benefit Plan to administer LFAC Inc. Profit Sharing 401(k) Plan and distribute assets to qualified participants

Date of Action: Oct. 3, 2012

Type of Action: Consent order and judgment

Names of Defendant: LFAC Inc. Profit Sharing 401(k) Plan

Allegations: LFAC, Inc. was acquired by the General Castings Company in approximately 1996.  Subsequently, General Castings Company served as the plan’s sponsor and administrator.  The plan was abandoned when General Castings Company ceased doing business in 2004.

October 3, 2012

Judge order fiduciaries to restore funds to Accucast Technology 401(k) and Health Plan in Chesterton, Ind.

Date of Action: Oct. 2, 2012

Type of Action:  Consent order and judgment

Names of Defendant: Joseph A. Seher, Pat Mowery, Cheryl Sloan, Accucast Technology LLC 401(k) Plan and Accucast Technology LLC Health Plan

Allegations: Mowery and Sloan in their capacity as fiduciaries to the Accucast Technology LLC 401(k) Plan and Accucast Technology LLC Health Plan failed to ensure employee contributions were forwarded to the plan.