Showing posts with label 401(k). Show all posts
Showing posts with label 401(k). Show all posts

Wednesday, May 27, 2015

U.S. DOL SUES COMPANY OVER MISSING EMPLOYEE DEDUCTIONS

FROM:  U.S. LABOR DEPARTMENT
Houston Company Sued Over Missing Employee Deductions

The department has sued a Houston-based environmental engineering firm and its owner over missing 401(k) plan retirement monies and health insurance premiums deducted from employees' wages. The Employee Benefits Security Administration alleges AARC Environmental Inc. and Kishore Chainani violated the Employee Retirement Income Security Act of 1974 by failing to forward employee contributions and loan repayments of more than $78,000 to the company's 401(k) plan. The defendant also failed to forward more than $40,000 in employee and employer premiums to the group health plan, resulting in lapses in health coverage for their employees.

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