DOL claims $3,000,000 ERISA violation
January 15, 2010 by Ross Runkel at LawMemo
Department of Labor has sued the owners of a bankrupt company, claiming that although $1.26 million in employee health plan contributions were withheld, $3,000,000 in employee medical claims were not paid, in violation of the Employee Retirement Income Security Act (ERISA).
The suit seeks a court order to require that the defendants restore any losses, suffered by the plans or their participants and beneficiaries and to undo any prohibited transactions involving the plans.
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