Blue Bell Company Sued By Department of Labor for 401(k) Violations

A Blue Bell company is being sued by the US Department of Labor for mismanaging multiple 401(k) plans, according to a press release issued Thursday.

The company, Belanger and Co. Inc., allegedly violated the Employee Retirement Income Security Act through their actions, the DOL said.

The DOL investigation revealed a wide variety of charges against the defendants A. Kenneth Belanger and Jo-Ann Belanger. These include:

• Transferring certain 401(k) plan assets to the company
• Failing to fully disclose fees
• Failing tofully and timely terminate some plans and process some plan distributions
• Destroying documents
• Making errors in the administration of some plans

Belanger and Co. is the administrator of employee benefit plans for many small businesses.

The DOL is seeking full restoration of all plan losses and lost earnings caused by Belanger, the press release states. The suit is also seeking to remove the Belangers as fiduciaries and prevent them from ever being able to administer employee benefits again.

Belanger and Co. is located on 1515 Dekalb Pike, #204, in Blue Bell.