Printer
Friendly Version
Release Date: February 13, 2006
Release Number: 06-144-CHI
Contact Name: Gloria Della/David James
Phone Number: 202.693.8664/202.693.4676
Detroit, Michigan - The U.S. Department of
Labor sued the former president and part-owner of Accutek Services Inc,
Detroit, Michigan, to restore losses suffered by the company’s 401(k)
plan when he failed to remit employee contributions, used plan assets to
operate the company and failed to administer the plan.
“This action demonstrates the department’s
commitment to protect the retirement benefits of America’s workers,”
said Joseph Menez, director of the department’s Cincinnati regional
office of the Employee Benefits Security Administration (EBSA), which
investigated the case.
The lawsuit, filed in federal district court in
Detroit, alleges that Jason M. Goelde violated the Employee Retirement
Income Security Act (ERISA) by failing to remit and timely forward to
the plan contributions withheld from employees’ paychecks between July
20 and August 31, 2001. Goelde also mingled 401(k) assets with those of
the company, used the assets to pay Accutek’s general operating
expenses and did not properly terminate the plan in order to distribute
the assets to all eligible participants. In addition, he failed to
obtain a fidelity bond as required by law.
The department is seeking a court order requiring
Goelde to restore all losses with interest and to undo any transactions
prohibited by ERISA. The suit also asks the court to permanently bar
Goelde from future service to plans governed by ERISA; to require him to
obtain and maintain a fidelity bond until the Accutek plan is
terminated, and to properly terminate the plan and distribute its assets
to participants.
Accutek Services was a computer services firm until
it ceased operations in August 2001. At the time of the alleged
violations, Goelde was the president and part-owner of Accutek.
EBSA’s Cincinnati office can be reached at
859.578.4680 or through EBSA’s toll-free number, 1.866.444.EBSA
(3272), for help with problems relating to private-sector retirement and
health plans. Additional information can also be obtained at www.dol.gov/ebsa.
(Chao v. Goelde)
Civil Action No. 2:06-CV-10525
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 202.693.7765 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.
|