CONNECTICUT PENSION TRUSTEES SUED BY LABOR DEPARTMENT FOR MISUSE OF PLAN FUNDS
August 04, 2008
August 04, 2008
HARTFORD, Conn., Aug. 4 -- The U.S. Department of Labor's Employee Benefits Security Administration issued the following news release:
Trustees of the James T. Farrell III Money Purchase Pension Plan in Hartford misused more than $960,000 in plan assets to pay their personal expenses and operating expenses of Farrell Associates in violation of the Employee Retirement Income Security Act (ERISA), according to a lawsuit filed by the U. S. Department of Labor.
The . . .
Trustees of the James T. Farrell III Money Purchase Pension Plan in Hartford misused more than $960,000 in plan assets to pay their personal expenses and operating expenses of Farrell Associates in violation of the Employee Retirement Income Security Act (ERISA), according to a lawsuit filed by the U. S. Department of Labor.
The . . .