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Release Date: 08/23/2002
Release Number: 02-176
Contact Name: Sharon Morrissey
Phone Number: 202.693.8664
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Jackson, Tennessee - In a lawsuit filed
August 21, the U.S.
Department of Labor asked the court to order the plan fiduciaries of the Beryl Yancey, M.D. Money
Purchase Plan of Humboldt, Tennessee to forward $9,756.98 to plan participants who
have been waiting since November 2000 for their distributions from the plan. |
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“This action demonstrates our commitment to protect the
hard-earned benefits of American workers," said Howard Marsh, director of the
department’s Atlanta Regional Office of the Pension and Welfare Benefits
Administration, which investigated the alleged violations of the Employee
Retirement Income Security Act (ERISA). |
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Defendants in the suit are co-fiduciaries of the plan:
Dr. Beryl G. Yancey, sole proprietor of the general medical practice, and her
husband, Robert Tucker, Jr., who allegedly failed to monitor the actions of his
wife. |
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Yancey established a retirement plan in May 1995 and, since
March 9, 1999, the plan has effectively been abandoned. On November 13, 2000,
Yancey executed a request for total withdrawal for each participant in the plan
and the custodian of the plan’s assets issued checks in the names of the
affected plan participants on November 16, 2000. The checks were never
distributed to the intended participants but were deposited in the Yancey
Medical Center account. |
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Employers and workers can contact the Atlanta Regional
Office at 1.404.562-2156 or PWBA’s Toll-Free Employee & Employer Hotline number at
1.866.275.7922, for
help with any problems relating to private-sector pension and health plans. |
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The complaint was filed in federal district court in
Jackson, Tennessee. |
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(Chao v. Beryl G. Yancey et al
Civil Action No. 02-1219) |
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U.S. Department of Labor
news releases are accessible on the Internet. The information in this news
release will be made available in alternate format upon request (large
print, Braille, audio tape or disc) from the Central Office for Assistive
Services and Technology. Please specify which news release when placing
your request. Call 202.693.7773 or TTY 202.693.7775. |
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