PHILADELPHIA – A Newtown Square company is accused of not taking fiduciary responsibility for a plan funded by employee contributions.
U.S. Department of Labor Secretary of Labor Thomas E. Perez filed a complaint on Nov. 28 in the U.S. District Court for the Eastern District of Pennsylvania against The Scanlan Agency Inc. alleging violation of the Employee Retirement Income Security Act.
According to the complaint, a plan was established by the defendant in 1983 that was owned by John Scanlan Jr., who passed away in 2010. The suit states that his daughter and ex-wife became trustees of the plan, but they resigned in 2011 and the plaintiff alleges the defendant has not taken fiduciary responsibility for the plan or appointed anyone to assume its responsibilities. The suit states the defendant failed to distribute the plan assets.
The plaintiff seeks remove the defendant from its position as fiduciary with respect to the plan and any further relief the court grants. He is represented by Elaine M. Abdoveis of Office of the Solicitor in Philadelphia.
U.S. District Court for the Eastern District of Pennsylvania Case number 2:16-cv-06197-CMR