DATE: February 21, 1997
CASE NO. 94-RIS-0011

In the Matter of

U.S. DEPARTMENT OF LABOR,
PENSION AND WELFARE BENEFITS
ADMINISTRATION,
    Complainant,

    v.

EL DORADO FURNITURE CORPORATION,
    Respondent.

    On February 18, 1997, the parties reached a settlement pursuant to 29 CFR 2570.65(c)(2). Complainant Pension and Welfare Benefits Administration notified the Court that the parties have agreed to a settlement. A detailed Settlement Agreement and Stipulation for Dismissal and Order signed by all counsel (designated as Joint Exhibit 1) has been presented to the undersigned. The parties have requested that the settlement be approved as follows:

    The parties have reached settlement in this matter.

    1. Respondent El Dorado Furniture Corporation ("El Dorado"), the plan administrator of the El Dorado Insurance Program Plan 501 ("Plan"), will have resolved all penalty assessments by payment of $4,000.00 to the U.S. Department of Labor ("Department") pursuant to the payment schedule set forth in paragraph 2, below, and is in compliance with the reporting requirements under the Employee Retirement Income Security Act of 1974 ("ERISA"), as amended, 29 U.S.C. §§ 1001, et seq., for the Plan's 1988 through 1991 annual reports, thus settling all claims that the Department's Pension and Welfare Benefits Administration may have against El Dorado regarding reporting deficiencies in connection with the Plan's 1988 through 1991 annual reports. Accordingly, the parties hereby stipulate and agree that the above-captioned proceeding be dismissed subject to the provisions below.

    2. El Dorado shall pay to the Department $2,000.00 within ten (10) days after the date of the entry of this Order, and $2,000.00 within forty (40) days after the date of the entry of this Order.        3. This Court shall retain jurisdiction over this action for purposes of enforcing the terms of this Order until El Dorado has made the payments required pursuant to paragraph 2, above, after which time this action shall be dismissed.

    4. The parties also agree that:

       (a) this Order shall have the same force and effect as an order made after a full hearing;

       (b) the entire record on which this Order is based shall consist solely of the Notice of Determination in this case and this Agreement and Order:

       (c) the parties waive any further procedural steps before this Court;

       (d) the parties waive any rights to challenge or contest the validity of this Order and decision entered into in accordance with this Agreement and Order;

       (e) each party shall bear all its own costs, expenses, and legal and accounting fees incurred in connection with this action; and

       (f) this Order and the decision of this Court shall be final agency action.

    I have carefully considered the facts involved in this case and the difficult legal and factual questions in dispute, as well as the criteria set forth in 29 CFR 2570.65(c)(2) and, upon careful evaluation of same, I conclude that the settlement is fair and in the best interest of the parties. Moreover, I find that the Settlement was arrived at without duress, and only after full exploration by the parties of all issues in dispute and the difficult legal and factual questions involved. Pursuant to 29 CFR 2570.65(d), I find that the settlement is fair, reasonable and adequate.

    IT IS ORDERED THAT the settlement be, and hereby is APPROVED.

      PAUL H. TEITLER
      Administrative Law Judge

Dated:February 21, 1997

PHT:abr