Printer Friendly Version
Release Date: April 17, 2008
Release Number: 08-502-CHI
Contact Name: Scott Allen/Brad Mitchell
Phone Number: 312.353.6976
Fenton, Michigan – The U.S. Department of
Labor has sued the owner and 401(k) plan fiduciary of Control Pak
International Inc. in Fenton for improperly using 401(k) assets withheld
from employees’ pay to benefit the company in violation of the
Employee Retirement Income Security Act (ERISA).
The department’s lawsuit alleges that in various
periods from January 2001 through July 11, 2003, Timothy Glinke,
president and owner of Control Pak, retained participant contributions
intended for the 401(k) plan. The Labor Department seeks to recover all
assets owed to the 401(k) accounts and has asked the court to order
Glinke to obtain a fidelity bond and keep it active until such time as
the plan is terminated.
“The department helps workers get their benefits
when plan assets are either misused or plans are abandoned,” said
Joseph Menez, director of the department’s Cincinnati Regional Office
of the Employee Benefits Security Administration (EBSA), which
investigated the case.
The suit, filed in federal district court in Detroit,
resulted from an investigation conducted by EBSA’s Cincinnati Regional
Office. Employers and workers can reach the Cincinnati office at
859.578.4680 or toll-free at 866.444.3272 for help with problems
relating to private sector retirement and health plans.
In fiscal year 2007, EBSA achieved monetary results
of $1.5 billion related to pension, 401(k), health and other benefits
for millions of American workers and their families.
Chao v. Timothy Glinke
Civil Action Number: 2:08-cv-11528
U.S. Department of Labor news releases are accessible on the
Department's Newsroom
page. The information in this news release will be made available
in alternate format upon request (large print, Braille, audio tape or
disc) from the COAST office. Please specify which news release when
placing your request at 202.693.7828 or TTY 202.693.7755. The U.S.
Department of Labor is committed to providing America's employers and
employees with easy access to understandable information on how to comply
with its laws and regulations. For more information, please visit the
Department's Compliance
Assistance page.
|