U.S. sues clinic over pension plan
Published: Fri, Nov. 21, 2008 12:30AM
Modified Fri, Nov. 21, 2008 02:21AM
E-Mail
Print
tool name
closeRALEIGH -- The U.S. Department of Labor is seeking to recover more than $120,000 for the pension plan of Vance-Warren Comprehensive Health Plan, a medical clinic in Manson, about an hour north of Raleigh.
The Labor Department announced Thursday that it has filed a lawsuit alleging that the business and fiduciaries of the employee pension plan failed to fulfill their fiduciary duties. Among the allegations are that the company failed to make $82,047 in required contributions on behalf of plan participants.
"Employees trust that their retirement accounts will be managed in a prudent manner," R.C. Marshall, regional director of the Labor Department's Employee Benefits Security Administration office in Atlanta, said in a prepared statement.
More Business
Vance-Warren Comprehensive CEO Patrick Jackson, who is not named as a defendant in the lawsuit, said he was unaware of the action and had no immediate comment.
All rights reserved. This copyrighted material may not be published, broadcast or redistributed in any manner.
Get it all with convenient home delivery of The News & Observer.
Staff writer David Ranii
The News & Observer is pleased to be able to offer its users the opportunity to make comments and hold conversations online. However, the interactive nature of the internet makes it impracticable for our staff to monitor each and every posting.
Since The News & Observer does not control user submitted statements, we cannot promise that readers will not occasionally find offensive or inaccurate comments posted on our website. In addition, we remind anyone interested in making an online comment that responsibility for statements posted lies with the person submitting the comment, not The News and Observer.
If you find a comment offensive, clicking on the exclamation icon will flag the comment for review by the administrators, we are counting on the good judgment of all our readers to help us.
