White Plains, N.Y., Employer and Company President Ordered to Restore $1.5 Million to Retirement Plan to Resolve U.S. Labor Department Lawsuit
U.S. Newswire, March, 2008
To: NATIONAL EDITORS
Contact: John M. Chavez of the U.S. Department of Labor, 1-617- 565-2075
NEW YORK, March 12 /PRNewswire-USNewswire/ -- The marketing and communications company Guild Concepts Ltd., White Plains, N.Y., and its president have been ordered to repay $1.5 million to the companys pension plan under a consent judgment resolving a U.S. Department of Labor lawsuit alleging violations of the Employee Retirement Income Security Act (ERISA).
The departments legal actions will restore the pension plans assets that these workers and their families have been counting on for their retirement, said U.S. Secretary of Labor Elaine L. Chao.
Guild Concepts Ltd. and its president, Victor Ayala, were named as defendants in the suit, which was...
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