October 16, 2008

U.S. Department of Labor updates fiduciary guidance on exercising shareholder rights and investing in economically targeted investments

Archived News Release — Caution: Information may be out of date.

Washington – The U.S. Department of Labor today announced the issuance of new guidance under the Employee Retirement Income Security Act (ERISA) clarifying the obligations of plan fiduciaries when considering shareholder rights and investments in economically targeted investments. The guidance is being issued in the form of two interpretive bulletins detailed below.

October 10, 2008

U.S. Department of Labor awards more than $4.7 million to strengthen benefits of international trade for workers

WASHINGTON — The U.S. Department of Labor today announced the award of $4,610,000 in funding to promote worker rights initiatives and more than $115,000 to study the employment effects of trade in services.

October 9, 2008

U.S. Labor Department seeks comments on genetic nondiscrimination requirements

Archived News Release — Caution: Information may be out of date.

Washington – The U.S. Department of Labor’s Employee Benefits Security Administration (EBSA) today announced publication of a “request for information” (RFI) to assist the department in implementing the requirements under the Genetic Information Nondiscrimination Act of 2008 (GINA) for group health plans and health insurance issuers. The RFI is to be published in the October 10, 2008 Federal Register.

October 9, 2008

U.S. Labor Department obtains consent judgment against president of Control Pak International over misuse of $19,000 in 401(k) assets

Archived News Release — Caution: Information may be out of date.

Fenton, Michigan – The U.S. Department of Labor has obtained a consent judgment against the president of Control Pak International in Fenton, providing restoration of $19,165 to the company’s 401(k) savings plan as restitution for misuse of 401(k) assets in violation of the Employee Retirement Income Security Act (ERISA).

October 9, 2008

U.S. Labor Department to hold hearing on investment advice proposals

Archived News Release — Caution: Information may be out of date.

Washington— The U. S. Department of Labor’s Employee Benefits Security Administration (EBSA) will hold a public hearing October 21, 2008, to hear testimony on a proposed regulation and class exemption for the provision of investment advice. The hearing will begin at 8:00 a.m. in Room S-3215 A-B, 200 Constitution Avenue, NW in Washington, DC.

October 8, 2008

U.S. Department of Labors Wage and Hour Division reopens

WASHINGTON — The U.S. Department of Labor's Wage and Hour Division has announced the reopening of its Houston District Office to assist employees and employers in the communities affected by Hurricane Ike with wage-related issues.

The Houston office was closed because of wind and rain damage as a result of Hurricane Ike. During that period, the work normally performed out of the division's Houston office was handled by its San Antonio District Office.

October 8, 2008

U.S. Department of Labor salutes New Freedom Initiative awardees for enhancing participation of Americans with disabilities in 21st century workforce

Theme: America's People... America's Talent... America's Strength!

WASHINGTON — The U.S. Department of Labor today recognized eight winners of the 7th annual New Freedom Initiative Award for their outstanding efforts to improve employment opportunities for people with disabilities. The awards ceremony took place at the Grand Hyatt Washington Hotel in Washington, D.C.

October 8, 2008

U.S. Labor Department sues defunct Charlotte, North Carolina employee staffing company to protect participants of 401(k) plan

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

Atlanta – The U.S. Department of Labor has sued People Unlimited Consulting Inc. and two executives of the Charlotte, North Carolina, employee staffing company for violating the Employee Retirement Income Security Act (ERISA) when they failed to distribute $115,589 in 401(k) assets to eligible plan participants.

October 8, 2008

U.S. Department of Labor obtains consent decree appointing independent fiduciary of 401(k) plan of defunct Colorado company

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

Denver – The U.S. Department of Labor has obtained a consent order appointing Midwest Fiduciary Services to serve as the independent fiduciary of the abandoned 401(k) plan of defunct Absolute Control Systems Inc. in Golden, Colorado.

October 6, 2008

U.S. Department of Labor issues final rules under Pension Protection Act on missing pension beneficiaries, annuities and cross trading

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

WASHINGTON — The U.S. Department of Labor has announced final rules pertaining to the requirements of the Pension Protection Act of 2006 (PPA). The new rules relate to distribution of 401(k) benefits for missing nonspouse beneficiaries in terminated plans, selection of annuity providers and cross trading of securities by plans governed by the Employee Retirement Income Security Act (ERISA).

October 1, 2008

U.S. Department of Labor awards more than $58 million to eliminate exploitive child labor around the world

WASHINGTON — U.S. Secretary of Labor Elaine L. Chao today announced that the U.S. Department of Labor is awarding more than $58 million in fiscal year 2008 grants to combat hazardous and exploitive child labor in countries around the world. The grants will save children from and prevent them from entering exploitive labor by providing education and other services. Some of the funding also will be used to collect reliable data and strengthen the capacity of governments to address the problem.

October 1, 2008

Owner of Columbus business pleads guilty to violating Employee Retirement Income Security Act

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

Columbus, Ohio — The owner of Laser Saver Inc. in Columbus today pleaded guilty in U.S. district court to willful failure to file with the U.S. Department of Labor annual financial reports for the company’s 401(k) retirement plan that are required by the Employee Retirement Income Security Act.

September 30, 2008

U.S. Department of Labor issues union transparency final rule

Rule establishes Form T-1 for union trust reporting

September 30, 2008

U.S. Labor Department to sponsor free compliance assistance seminar for retirement plan fiduciaries in Pittsburgh

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

Pittsburgh – The U.S. Department of Labor’s Employee Benefits Security Administration (EBSA) will sponsor “Getting It Right – Know Your Fiduciary Responsibilities,” a free compliance assistance seminar, on October 30 at the Westin Convention Center Hotel in Pittsburgh.

September 30, 2008

U.S. Labor Department sues to appoint independent fiduciary for 401(k) plan abandoned by Kennebunk, Maine, company

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

Portland, Maine – The U.S. Department of Labor has filed a lawsuit in the U.S. District Court for the District of Maine seeking appointment of an independent fiduciary to oversee the abandoned 401(k) plan of TRITECH Information Strategies Inc., formerly of Kennebunk, Maine.

September 25, 2008

U.S. Labor Department takes legal action against Houston-based CEMEX
to secure more than $5 million in overtime wages

Lawsuit seeks backwages for 2,000 ready mix drivers in 8 states

September 23, 2008

U.S. Labor Department sues Fairfield, Connecticut employer to restore funds to company 401(k) plan

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

New Haven, Connecticut – The U.S. Department of Labor has sued the owner and operator of Fairfield Podiatry Associates LLC of Fairfield, Connecticut, seeking restoration of funds to the company’s 401(k) plan.

September 23, 2008

U.S. Labor Department sues First Primary Mortgage Inc. and its trustee for failure to administer employee 401(k) plan

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

Middleburg Heights, Ohio – The U.S. Department of Labor has sued First Primary Mortgage Inc. of Middleburg Heights, and its owner and the trustee of the First Primary Mortgage Inc. 401(k) Plan, for failure to properly administer the company plan in violation of the Employee Retirement Income Security Act (ERISA).

September 22, 2008

Boston company and officers ordered to restore nearly $73,000 in misused funds to company 401(k) plan to resolve U.S. Labor Department lawsuit

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

Boston – A federal judge has ordered G. Conway Inc. of Boston and corporate officers Gerard D. Conway and Robert Conway to repay $72,803 to the company’s 401(k) plan to resolve a lawsuit filed by the U.S. Department of Labor that alleged violations of the Employee Retirement Income Security Act (ERISA).

September 22, 2008

U.S. Department of Labor sues executive of defunct Minneapolis company to protect participants of abandoned plan

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

Minneapolis – The U.S. Department of Labor has sued to appoint an independent fiduciary to administer and terminate the 401(k) plan of KSM Holding Corp., a defunct Minneapolis company.