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Pension Officials Sued for Mismanaging Illinois Pension and Welfare Plans
Employee Benefits Security Administration [EBSA], U.S. Department of Labor [DOL]
Nov. 16, 2000
Excerpt: According to the lawsuit, the defendants violated [ERISA] when they: (1) failed to timely deposit employee contributions and loan repayments into the pension plan's accounts... ; (2) retained employee contributions and loan repayments with the general assets of the corporation; (3) failed to pay $3,055 in participant claims with respect to the cafeteria plan despite collecting $6,666.84 in employee contributions...
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