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Release Date: April 28, 2006
Release Number: 06-752-CHI
Contact Name: Brad Mitchell
Phone Number: 312.353.6976
Cincinnati, Ohio - The federal district court
in Indianapolis has granted a default judgment to the U.S. Department of
Labor, which allows the government to restore retirement savings funds
and distribute benefits owed to former workers of T&J Fixturing and
Contracting Inc. of Franklin, Indiana, according to the department’s
Employee Benefits Security Administration (EBSA).
The court action resolves a lawsuit filed by the
department against Anita Boyd, then president of T&J Fixturing and
Contracting Inc., for failure to terminate the company’s 401(k) plan
and make required distributions to all plan participants. The company
ceased operation in May 2003. The court appointed an independent
fiduciary to distribute plan assets to participants and beneficiaries,
and then terminate the plan.
“The department will act when plan fiduciaries fail
to carry out their duty to protect the retirement plan assets held on
behalf of participants,” said Joseph Menez, director of the
department’s Cincinnati EBSA regional office.
Filed in federal district court in Indiana, the suit
resulted from an investigation conducted by EBSA’s Cincinnati regional
office. Employers and workers can reach the regional office 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. In fiscal year 2005, EBSA achieved monetary results of
$1.7 billion related to pension, 401(k), health and other benefits for
millions of American workers and their families.
Chao v. Boyd
Civil Action No.: 1:05-cv-1818-DFH-TAB
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