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Company, Union and Retirement Plan Administrator Sued for Purported Fraud

Company, Union and Retirement Plan Administrator Sued for Purported Fraud

Alleged violations of the Employee Retirement Income Security Act (ERISA) provisions involved a lawsuit with 225 plaintiffs, all current or former workers at an Ohio steel mill and members of…

Company to Restore More Than $500,000 to Retirement Plan

Company to Restore More Than $500,000 to Retirement Plan

Explore General, Inc., a now-defunct construction company based in Fresno, CA, has been ordered to restore over 500,000 dollars to the company’s 401(k) profit-sharing retirement plan. The judgment and order,…

Company Sued for Investing 401(k) Funds in Fraudulent Scheme

Company Sued for Investing 401(k) Funds in Fraudulent Scheme

The U.S. Department of Labor (DOL) has filed a lawsuit against a construction company for misappropriation of funds from a 401(k) plan. Allegedly more than 775,000 dollars was lost from…

Man Accused of Murder Uses Retirement Plan Funds for Legal Fees

Man Accused of Murder Uses Retirement Plan Funds for Legal Fees

A Wisconsin murder suspect is being permitted to utilize funds from his 401(k) to hire an attorney for representation. Jason Anderson of Fond du Lac, WI, was arrested in November…

Employees Can Now Receive Quality Investment Advice

Employees Can Now Receive Quality Investment Advice

For persons of 401(k)-type plans and individual retirement accounts (IRAs), investment advice is an often necessary but not readily available component. This is in part due to the Employee Retirement…

Are Retirement Income Menus a Good Idea?

Are Retirement Income Menus a Good Idea?

The Institutional Retirement Income Council(IRIC) which promotes retirement income solutions highlights the common retiring individuals inability to deal with the the continuing shift from defined benefit pension plans to defined…

New Bill Introduced to Senate to Restrict Frivolous Usage of 401(K) Funds

New Bill Introduced to Senate to Restrict Frivolous Usage of 401(K) Funds

A new bill has been introduced into the Senate by two Senators, the Republican Mike Enzi of Wyoming, and the Democrat Herb Kohl of Wisconsin. The bill, if passed, would…