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DOL Sues Firm for Abandoning Plan Without Distributing Assets
planadviser; registration may be required 
Oct. 8, 2008
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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