Crime & Safety
Exton Company Sued By US Department Of Labor To Restore $166K In Retirement Benefits
An Exton electrical equipment installation company is accused of never paying back a massive amount of employee retirement benefits.
The U.S. Department of Labor is suing an Exton electrical equipment installation company for withholding roughly $166,000 in retirement benefits.
The DOL said in a statement Thursday that Steven Keares Inc. and president Harry Keares withheld employee pay for retirement benefits, but then failed to pay it back.
The total lost earnings from December 28, 2011 thorugh April 18, 2014 are $166,021.71.
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Steven Keares Inc. violated the Employee Retirement Income Security Act, the DOL said.
In addition to paying back the losses, the lawsuit demands the company be permanently barred from serving as a plan fiduciary in the future.
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