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Article: U.S. LABOR DEPARTMENT SUES TRUSTEES OF 3 MENDON, MASSACHUSETTS, COMPANY PENSION PLANS SEEKING RESTORATION OF MORE THAN $300,000 IN PLAN ASSETS
- Article from:
- US Fed News Service, Including US State News
- Article date:
- August 22, 2009
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WASHINGTON, Aug. 11 -- The U.S. Department of Labor's Employee Benefits Security Administration issued the following news release:
The U.S. Department of Labor has sued trustees Michael McLaughlin and William J. Frasier for allegedly misusing $312,555.71 in retirement assets of three Mendon, Massachusetts, pension plans, in violation of the Employee Retirement Income Security Act (ERISA).
McLaughlin and Frasier were trustees of the pension plans, which were sponsored for employees of three now-defunct Mendon companies: McLaughlin Mechanical Services Inc., Pro-Fit Mechanical Insulation and Integrated Energy Solutions. The lawsuit, filed in the U.S. District Court for the District of ...