Subscribe Now!
Free Daily News, Jobs, Webcasts, Discussions
Display and Distribute
Your Job Openings
COVID-19 News
COVID-19 Webcasts

Featured Jobs

Plan Administrator

Forrestall CPAs, LLC
(Buford GA)

Forrestall CPAs, LLC logo

Retirement Plan Administration Consultant

TSC
(Telecommute / Edina MN)

TSC logo

Free Daily News and Jobs

“BenefitsLink continues to be the most valuable resource we have at the firm.”

-- An attorney subscriber

Get the BenefitsLink app LinkedIn
Twitter
Facebook

By Date   |   By Company Name


View More Press Releases by Employee Benefits Security Administration [EBSA], U.S. Department of Labor

Press release:

DOL Obtains Judgment and Order Against Carolina Crawler & Equipment of Charleston Inc. to Restore Employee Contributions to the Company's SIMPLE IRA Plan

Issued by: Employee Benefits Security Administration [EBSA], U.S. Department of Labor

Date: Mar. 23, 2016

Date of Action: March 11, 2016

Type of Action: Consent Judgment and Order

Name of Defendants: Carolina Crawler & Equipment of Charleston Inc., Susan Mills, Glenn Perry Mills, Carolina Crawler & Equipment SIMPLE IRA Plan

Allegations: Carolina Crawler, based in North Charleston, South Carolina, established a SIMPLE IRA plan in 1986 for its employees. Following an investigation by the U.S. Department of Laborís Employee Benefits Security Administration, the agency found that from January 2008 to January 2012, Carolina Crawler, Susan Mills and Glenn Mills failed in their fiduciary responsibility to forward $43,386 in employee contributions to the plan in a timely manner. The defendants also allowed the funds to be commingled with general company assets. In January 2015, the department filed a complaint against the defendants seeking the restoration of losses, including interest or lost opportunity costs, to the plan. The department also sought an injunction to permanently enjoin the defendants from serving as a fiduciary, administrator, officer, trustee, custodian, agent, employee, representative, or having control over the assets of any employee benefit plan subject to the Employee Retirement Income Security Act.

Resolution: In the consent judgment and order, the defendants admitted to each allegation in the complaint and agreed to make restitution to the plan in the amount of $48,734 to be allocated to all participants with the exception of the defendants. Defendants Glenn Perry Mills and Susan B. Mills also agreed to waive funds owed to them totaling $10,164 and $7,683, respectively. The defendantsí son, Glenn Perry Mills Jr., also agreed to waive monies owed to him totaling $5,952. Restitution is required to be paid with an $18,500 payment within five days following entry of the order and $2,144 on the first day of each month for the following three months.

Court: U.S. District Court for the District of South Carolina, Charleston Division

Docket Number: 2:15-cv-00406-RMG

BL:hh

View More Press Releases by Employee Benefits Security Administration [EBSA], U.S. Department of Labor


This is a press release issued by the company named above. BenefitsLink is not the author. Use of any information obtained from this release is voluntary, and reliance on it should only be undertaken after an independent review of its accuracy, completeness, efficacy, and timeliness. Reference to any specific commercial product, process, or service by trade name, trademark, service mark, manufacturer, or otherwise does not constitute or imply endorsement, recommendation, or favoring by BenefitsLink.

© 2020 BenefitsLink.com, Inc.