A federal court in Maryland has entered a consent judgment requiring a Baltimore logistics company and its owner to restore $148,852 in missing contributions and interest to its 401(k) plan.
The action follows a U.S. Department of Labor investigation that found the company, Bicallis LLC, and its owner failed to forward employees’ pay deductions for the plan contributions and did not collect matching contributions the company owed the plan from October 2017 through December 2019.
The consent judgment also removes the company and Hill from their fiduciary positions with the plan, enjoins them permanently from serving in a fiduciary capacity for any Employee Retirement Income Security Act-covered plan in the future, and requires Bicallis and Hill to pay $3,090 for the cost of an independent fiduciary to administer the plan and distribute benefits to the plan’s participants and beneficiaries.
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