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Release Date: January 7, 2009
Release Number: 08-1846-CHI
Contact Name: Brad Mitchell or Scott Allen
Phone Number: 312.353.6976
Mondsview, Minnesota – The U.S. Department
of Labor has sued Hyman Freightways Inc., formerly located in Mondsview,
for allegedly abandoning its profit-sharing and 401(k) plan in violation
of the Employee Retirement Income Security Act after the company ceased
operations in October 1997.
The Labor Department is asking the federal district
court in Minneapolis to appoint an independent fiduciary to terminate
the plan and distribute its assets to participants and beneficiaries. As
of March 19, 2008, the trucking company’s plan had 14 participants and
assets totaling $164,251.32, the latest data available.
“There can be no excuse for failing to complete the
promise inherent in any retirement plan offered to working people, and
this department will take the necessary measures to be certain those
funds are delivered to their owners,” said Steve Eischen, regional
director of the Labor Department’s Employee Benefits Security
Administration (EBSA) in Kansas City, Missouri.
In fiscal year 2008, EBSA achieved monetary results
of $1.2 billion related to pension, 401(k), health and other benefits
for millions of American workers and their families. Employers and
workers with questions or concerns regarding their private-sector
pension and health plans can contact the regional office in Kansas City
at 816.285.1800 or toll free at 866.444.3272. Information is also
available from EBSA’s Web site at www.dol.gov/ebsa.
Chao v. Hyman Freightways Inc.
Civil Action Number: 08-cv-06360
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placing your request at 202.693.7828 or TTY 202.693.7755. The Labor Department is committed to providing America's employers and
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with its laws and regulations. For more information, please visit the
Department's Compliance
Assistance page.
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