U.S. Department of Labor concludes ERISA suit in Md.

Daily Record, The (Baltimore), May 20, 2008

The U.S. Department of Labor said it obtained a consent judgment removing National Management Systems LLC, of Columbia, and its owner, William Ray Miller II, as fiduciaries to the company's pension plan, and permanently barring them from fiduciary service to any employee benefit plan governed by the Employee Retirement Income Security Act.

The department had filed suit in the U.S. District Court for the District of Maryland alleging that, in 2004, Miller violated ERISA when he transferred plan assets from the company's plan account to nontrust accounts that he controlled, and in which he had an interest. Miller, who served as plan trustee and administrator, made restitution to the plan before the suit was filed.