Weekend DOL Blotter - 10/19/08

It was yet another eventful week at the DOL last week, as they announced, "U.S. Labor Department obtains consent judgment against president of Control Pak International over misuse of $19,000 in 401(k) assets."

Fenton, Michigan – The U.S. Department of Labor has obtained a consent judgment against the president of Control Pak International in Fenton, providing restoration of $19,165 to the company’s 401(k) savings plan as restitution for misuse of 401(k) assets in violation of the Employee Retirement Income Security Act (ERISA).

The department’s lawsuit resolved by this judgment alleged that, from January through November 2001, Timothy Glinke, president and owner of Control Pak International, failed to timely remit employee contributions to their 401(k) plan. From December 2001 through July 2003, Glinke also failed to remit the employee contributions, instead using those contributions for the company’s general operating expenses.

Chao v. Timothy Glinke
Civil Action Number: 2:08-cv-11528