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Release Date: 04/13/2004
Release Number: 04-620-CHI
Contact Name: Keke Vencil
Phone Number: 202.693.8664
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Grand Rapids, Michigan - The U.S. Department of
Labor has sued the owner of Van-Kal Truck Equipment Inc. of Mattawan,
Michigan, for failing to forward employee contributions to the company’s
401 (k) plan. The department also sued owner Steven P. Mullins to prevent
him from discharging any debt owed to the plan. |
“Fiduciaries
of 401(k) plans have a responsibility to ensure that the assets of the
plans are used solely to benefit participants. One of the most important
responsibilities is putting money from workers’ wages into their 401(k)
accounts on time,” said Joseph Menez, director of the Cincinnati
regional office of the Employee Benefits Security Administration (EBSA). |
The
suit alleges that Steven P. Mullins violated the Employee Retirement
Income Security Act (ERISA) by failing to remit employee contributions to
the 401(k) at various times between November 2001 and October 2002. The
401(k) plan covered 13 participants. At the time of the improper actions,
Mullins owned the company and was a plan fiduciary. The suit was filed in
federal district court in Grand Rapid, Michigan. |
The
suit seeks to require that Mullins restore all losses with interest,
correct any transactions prohibited by law and permanently bar him from
service to any plan governed by ERISA. The suit also asks the court to
appoint an independent fiduciary to oversee the plan. |
Van-Kal Truck Equipment Inc. produced and serviced
custom commercial trucks. |
In
fiscal year 2003, EBSA achieved record monetary results of $1.4 billion
related to the pension, 401(k), health and other benefits of millions of
American workers and their families. The case was investigated by the
department’s regional EBSA office in Cincinnati. Employers and workers
can contact the regional office at 859.578.4680 or EBSA’s toll free
number, 1.866.444.EBSA (3272), for help with problems relating to
private-sector pension and health plans. |
(Chao
v. Van-Kal Truck Equipment, Inc.)
Civil Action No. 1:04CV0233 |
U.S.
Labor Department news releases are accessible on the Internet at
www.dol.gov. 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
www.dol.gov/compliance. |