Tag: DoL

Vick to Turn Over $400K to DoL

Disgraced NFL quarterback Michael D. Vick has agreed to pay $416,461 in restitution to a pension plan sponsored by his company MV7 LLC to settle allegations Vick had funneled off plan assets for his personal use.

IMHO: Under New Management

Sitting in the audience at the ASPPA/DoL Speaks conference last week, I was reminded just how disruptive it can be to have a new boss.  

DoL Moves to Force 401(k) Restitution

The U.S. Department of Labor (DoL) has gone back to federal court asking a judge to force a former health-care firm owner to restore millions of dollars he embezzled from his company’s 401(k).

Summary Prospectus Users Still 404(c) Eligible

Plan sponsors got a bit of a roadmap from the U.S. Department of Labor’s Employee Benefits Security Administration (EBSA) about how to rely on a summary prospectus to meet the prospectus delivery component of safe-harbor provisions.

DoL Sues Plan Trustees for Misuse of Plans' Assets

The U.S. Department of Labor has sued defunct Vinyl-Mark Products Inc. of Hueytown, Alabama, and the company's pension and profit-sharing plan trustees for allegedly misusing plan assets to pay the operating expenses of the company.

IMHO: Executive “Order″

Those who had been waiting anxiously (or nervously) for that final wave of regulations from the Department of Labor will have (get?) to wait a bit longer, it appears.