March 18, 2010

U.S. Labor Department obtains court appointed independent fiduciary for 401(k) plan abandoned by Rochester, New York, employer

New York – The U.S. Department of Labor has obtained a court order appointing an independent fiduciary to manage the abandoned 401(k) plan of defunct Project Solutions Inc. of Rochester, New York.

March 15, 2010

U.S. Labor Department sues owner of Delaware-based Stover Industries to recover workers’ 401(k) contributions

Delaware, Ohio – The U.S. Department of Labor has sued Carl Stover and Stover Industries Inc. in Delaware, for allegedly using employee contributions owed to the company’s 401(k) plan to pay the operating expenses of the company, in violation of the Employee Retirement Income Security Act (ERISA).

March 11, 2010

U.S. Labor Department obtains consent judgments recovering more than $12 million for employee stock plan participants in California and Washington

San Francisco – The U.S. Department of Labor has obtained consent judgments providing for restitution of more than $12 million from Clair R. Couturier Jr., David R. Johanson and Robert E. Eddy, plan officials and service providers involved with the employee stock ownership plan sponsored by The Employee Ownership Holding Co. of Stockton, California, and Fife, Washington.

March 11, 2010

U.S. Department of Labor sues trustee of abandoned IXP Inc. 401(k) plan in Fruita, Colo.

Denver – The U.S. Department of Labor has filed a lawsuit in federal district court in Denver against the former president and owner of IXP Inc., Fruita, Colo., for abandoning the company's 401(k) plan as its trustee after the company ceased operations in January 2009. IXP Inc. installed gasoline distribution pipelines.

March 10, 2010

U.S. Department of Labor sues former Tampa, Fla., pharmacy and officials to restore losses to 401(k) plan

Tampa, Fla. – The U.S. Department of Labor has sued Medipharm-RX Inc., a former Tampa pharmacy, and two plan administrators to restore losses to the pharmacy's 401(k) plan.

March 5, 2010

U.S. Department of Labor’s ERISA Advisory Council announces first meeting of 2010

U.S. Department of Labor’s ERISA Advisory Council announces first meeting of 2010

Washington – The Advisory Council on Employee Welfare and Pension Benefit Plans, also known as the ERISA Advisory Council, will hold its first meeting of 2010 on March 22 in Washington, D.C., at the U.S. Department of Labor, 200 Constitution Avenue NW, Room S-2508.

March 4, 2010

U.S. Labor Department sues trustees of Westra Construction retirement plan in Waupun, Wis., over plan losses

Waupun, Wis. – The U.S. Department of Labor has sued a trustee of the Westra Construction Inc. Employee Stock Ownership Plan (ESOP) for alleged violations of the Employee Retirement Income Security Act (ERISA) that resulted in losses to the company-sponsored ESOP.

March 2, 2010

U.S. Labor Department secures appointment of independent fiduciary for 401(k) plan of defunct Cherry Hill, New Jersey, company

Cherry Hill, New Jersey — The U.S. Department of Labor has obtained a court order appointing Jacqueline Carmichael as the independent fiduciary of the 401(k) plan of ABC Wireless Inc., a defunct company formerly located in Cherry Hill. The court order gives Carmichael authority to terminate the plan and distribute plan assets to participants and beneficiaries.

March 2, 2010

U.S. Department of Labor to offer free health law seminar on March 16 and 17 in Las Vegas

Las Vegas – The U.S. Department of Labor’s Employee Benefits Security Administration and the Nevada Division of Insurance will host a free health law compliance assistance seminar on March 16 and 17 in Las Vegas at the College of Southern Nevada, Charleston Campus, 6375 W. Charleston Blvd., Room D-101.

February 26, 2010

U.S. Labor Department rules to improve retirement security announced as part of White House Middle Class Task Force's year-end report

Washington – Today, at a White House forum hosted by Vice President Joe Biden, the U.S. Department of Labor announced two new rules designed to enhance retirement security and transparency for the millions of workers covered by 401(k), pension and other retirement arrangements. The announcement was part of the White House Middle Class Task Force's year-end report, which the vice president released at this morning's event.

February 26, 2010

U.S. Labor Department sues to protect Utah retirement assets in bankruptcy proceeding

U.S. Labor Department sues to protect Utah retirement assets in bankruptcy proceeding

Salt Lake City – The U.S. Department of Labor has filed an adversary complaint in federal bankruptcy court in Utah to prevent Victor Jay Miller from discharging $26,964.51 in employee contributions owed to the Allwest Sales & Service Salary Reduction Simplified Employee Pension Plan.

February 25, 2010

Pension agency achieves $1.36 billion in results for employee benefit plans in fiscal year 2009

Washington - The U. S. Department of Labor’s Employee Benefits Security Administration (EBSA) today announced monetary results of $1.36 billion in fiscal year 2009 for retirement, health, and other employee benefits plans governed by the Employee Retirement Income Security Act (ERISA).

EBSA closed 3,669 civil investigations in FY 2009. In over 72% of those cases, the agency found violations and obtained correction. Criminal offenses involving employee benefit plans led to indictment of 115 individuals.

February 22, 2010

Employee Benefits Security Administration announces outreach and compliance assistance for 403(b) plans

Washington – The U. S. Department of Labor's Employee Benefits Security Administration (EBSA) announced new outreach and compliance assistance efforts for 403(b) pension plans subject to Title I of the Employee Retirement Income Security Act (ERISA). The initiatives are part of the agency's ongoing compliance assistance program to help employers, plan officials and service providers.

February 19, 2010

U.S. Department of Labor obtains agreement with Mississippi accountant to refrain from acting as fiduciary to ERISA-covered employee benefit plans

Meridian, Mississippi – The U.S. Department of Labor has entered into a settlement agreement with Grady Coleman of Meridian that requires the certified public accountant to refrain from present and future service as a fiduciary or service provider to any employee benefit plan governed by the Employee Retirement Income Security Act (ERISA).

February 19, 2010

Texas business owner sued by U.S. Department of Labor over misuse of 401(k) contributions and loan repayments

Dallas – The U.S. Department of Labor has sued the owner of defunct TMPR Inc. of Dallas for improperly using employee contributions and loan repayments owed to the Cliff Management 401(k) Plan for the benefit of the company.

“Employers and their executives will be held accountable by the Labor Department when they misuse the hard-earned retirement assets of America’s workers and retirees,” said Roger Hilburn, director of the Dallas Regional Office of the department’s Employee Benefits Security Administration (EBSA).

February 9, 2010

U.S. Labor Department publishes employer notices on Medicaid and CHIP programs

Washington – The U.S. Department of Labor's Employee Benefits Security Administration (EBSA) today released a model notice that will enable employers to provide information on eligibility for premium assistance under Medicaid or the Children's Health Insurance Program (CHIP).

February 8, 2010

U.S. Labor Department to sponsor free workshops in Boise, Idaho, on complying with federal pension law

San Francisco – The U.S. Department of Labor's Employee Benefits Security Administration (EBSA) will hold two free half-day workshops in Boise, Idaho, on Wednesday, Feb. 17, to help employers and plan administrators of pension and health plans better understand and comply with the Employee Retirement Income Security Act.

The workshops will be held at the James A. McClure Federal Building/U.S. Courthouse located at 550 West Fort St., Room 311. They will begin at 10 a.m. and 2 p.m. MST.

February 2, 2010

U.S. Labor Department seeks public comments on lifetime income options for retirement plans

Washington – The U.S. Departments of Labor and the Treasury today announced the publication of a request for information (RFI) soliciting public comments to assist the agencies in determining what steps to take to enhance retirement security for workers in employer-sponsored retirement plans through lifetime annuities or other arrangements that provide a stream of income after retiring. The RFI appears in today’s edition of the Federal Register.

January 29, 2010

U.S. Secretary of Labor Hilda L. Solis announces new appointments and leadership to 2010 ERISA Advisory Council

Washington – Secretary of Labor Hilda L. Solis today announced the appointment of five new members and new leadership to the 2010 Advisory Council on Employee Welfare and Pension Benefit Plans, also known as the ERISA Advisory Council.

“We appreciate the council members’ contribution of time and expertise in working on issues that affect the retirement and health benefits of America’s workers,” said Secretary Solis.

January 29, 2010

Obama Administration issues rules requiring parity in treatment of mental, substance use disorders

Washington – The U.S. Departments of Labor, Health and Human Services (HHS), and the Treasury today jointly issued new rules providing parity for consumers enrolled in group health plans who need treatment for mental health or substance use disorders.