Georgia Company Sued over Alleged ERISA Plan Violations

Duluth, GAThe US Department of Labor recently sued a software company based in Duluth, Georgia, for allegedly violating the Employee Retirement Income Security Act (ERISA), reports the Atlanta Journal-Constitution.

span itemprop="image" itemscope itemtype="https://schema.org/ImageObject" style="display:block">According to the news source, CSG Group Inc. and Thomas Wimberly are facing the civil lawsuit, which claims that they withheld more than $15,000 in employee contributions to the firm's 401(k) plan between 2005 and 2010.

The funds were allegedly never forwarded to the 401(k) plan and became combined with company assets, the lawsuit claims.

According to the lawsuit, more than $163,000 in employee contributions were not forwarded to the plan in timely fashion, which violated ERISA.

In addition to regaining lost costs and interest for the participants in the retirement plan, the Labor Department is seeking the appointment of an independent party to oversee the plan, according to the news source.

ERISA was enacted in 1974, according to the Web site for the Department of Labor.