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Press Release US Labor Department files suit against former chief executive of Baltimore Behavioral Health to restore employee retirement plan contributions |
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Issued by Employee Benefits Security Administration [EBSA], U.S. Department of Labor Nov. 19, 2017 |
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BALTIMORE – The U.S. Department of Labor has sued William Kristen Hathaway, former chief executive officer of Baltimore Behavioral Health Inc. and fiduciary to the company’s retirement plan, for failing to remit employee contributions, in violation of the Employee Retirement Income Security Act. The suit resulted from an investigation by the Washington District Office of the department’s Employee Benefits Security Administration. The investigation found that from October 2009 through April 2010, Hathaway failed to remit employee contributions to the plan, remitted certain employee contributions late without interest and failed to segregate the plan’s assets from the general assets of the company. “The defendant’s failure to properly remit these contributions clearly demonstrates a breach of fiduciary duty,” said Marc Machiz, EBSA’s regional administrator in Philadelphia. “This case underscores our commitment to hold fiduciaries accountable when they fail to act in the best interests of plan participants.” Filed in the U.S. District Court for the District of Maryland, the suit seeks to restore to the plan all losses, including interest and opportunity costs, and to appoint an independent fiduciary with the authority to manage and administer the plan. The suit also seeks to permanently bar Hathaway from serving in a fiduciary capacity to any employee benefit plan covered by ERISA and to cover the cost of the independent fiduciary. Baltimore Behavioral Health is a provider of mental health and drug treatment services. Employers and workers can reach EBSA’s Washington District Office at (202) 693-8700 or toll-free at 866-444-3272 for help with problems relating to private sector retirement and health plans. Additional information can be found at www.dol.gov/ebsa. Perez v. Hathaway |
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