Press Release
☷Federal court orders defunct Baltimore company owner to forfeit $388K in shares to restore missing contributions to employee 401 k plan
U.S. Department of Labor ( By Press Release office)
Mar 08,2024
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A federal court has ordered a former Baltimore company and its owner to give up $388K in shares to make up for missing contributions to their employee 401 ( k ) plan . This decision was made on Feb . 1 , 2024 , following a complaint filed by the U . S . Department of Labor back in July 2021 . The company , Bicallis LLC , and its owner Bryan Hill failed to forward employees ' payroll deductions to the 401 ( k ) plan and did not pay company matching and safe harbor contributions from 2017 to 2019 . Despite a previous consent judgment in May 2022 and a motion for contempt in June 2023 , the defendants have not fully paid what they owe . As a result , they agreed to forfeit assets to settle the debt . Acting Regional Solicitor of Labor Samantha Thomas stated that this forfeiture is a significant step in enforcing the judgment and protecting the benefits of workers . We ' re gonna keep going after and making sure those fiduciaries are doing right by their 401 ( k ) plans , said EBSA Regional Director Cristina O ' Brien in Philadelphia . Walsh v . Bicallis LLC et al Civil Case No . 1:21 - cv - 01746 - SAG .
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