10/8/2008: DOL Sues Firm for Abandoning Plan Without Distributing Assets (planadvisor)
Excerpt: "The U.S. Department of Labor sued the now-defunct People Unlimited Consulting Inc. and two of its executives for violating the Employee Retirement Income Security Act (ERISA). A DoL announcement said the executives of the Charlotte, North Carolina-based employee staffing company failed to distribute $115,589 in 401(k) assets to eligible plan participants. The company abandoned the plan, and plan participants were unable to gain access to their 401(k) funds."
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