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Release Date: October 1, 2007
Release Number: 07-1353-ATL (256)
Contact Name: Dan Fuqua/Michael Wald
Phone Number: 404.562.2078/404.562.2076
Atlanta – The U.S. Department of Labor has
obtained a consent judgment and order requiring that Orlando,
Florida-based ZHA Inc. and company officials Richard Zipperly and Wendy
Roby restore $100,817 to the company’s 401(k) plan.
“Individuals entrusted with retirement plan assets
cannot use those funds to benefit themselves,” said Bradford P.
Campbell, assistant secretary for the Labor Department’s Employee
Benefits Security Administration (EBSA). “Our legal action restores
assets to pay the future retirement benefits of these ZHA workers.”
The consent order, entered in the U.S. District Court
for the Middle District of Florida, resolves the department’s lawsuit
alleging that the defendants diverted employees’ contributions
intended for ZHA Inc.’s 401(k) plan for the benefit of the company in
violation of the Employee Retirement Income Security Act (ERISA).
The court has removed ZHA Inc., Zipperly, and Roby as
fiduciaries of the plan and barred Zipperly from future service as
fiduciary to any plan covered by ERISA.
ZHA Inc. is a consulting firm specializing in
construction projects. According to the latest data available, the
company’s 401(k) plan had 66 participants and assets of more than $3.5
million.
The case was investigated by EBSA’s Atlanta
Regional Office. Employers and workers can reach the office at
404.302.3900 or toll-free at 1.866.444.EBSA (3272) for help with
problems relating to private sector retirement and health plans. In
fiscal year 2006, EBSA achieved monetary results of $1.4 billion related
to pension, 401(k), health and other benefits for millions of American
workers and their families.
Chao v.ZHA Inc.
(Civil Action File Number 6:07-cv-1420-ORL-19KRS)
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placing your request at 202.693.7828 or TTY 202.693.7755. The U.S.
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with its laws and regulations. For more information, please visit the
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