Searching over 5,500,000 cases.


searching
Buy This Entire Record For $7.95

Download the entire decision to receive the complete text, official citation,
docket number, dissents and concurrences, and footnotes for this case.

Learn more about what you receive with purchase of this case.

Hilda L. Solis, Secretary of Labor, United States Department of Labor v. Shannon Leslie Stuart

August 26, 2011

HILDA L. SOLIS, SECRETARY OF LABOR, UNITED STATES DEPARTMENT OF LABOR, PLAINTIFF,
v.
SHANNON LESLIE STUART, AN INDIVIDUAL; STEVEN JOHN SCHMITZ, AN INDIVIDUAL; AND S.J. BURKHARDT, INC. EMPLOYEES' PROFIT SHARING PLAN, AN EMPLOYEE BENEFIT PLAN, DEFENDANTS.



CONSENT JUDGMENT & ORDER AGAINST DEFENDANT STEVEN JOHN SCHMITZ

Plaintiff HILDA L. SOLIS, Secretary of Labor, United States Department of Labor ("Secretary") pursuant to her authority under §§ 502(a)(2) and (5) of the Employee Retirement Income Security Act of 1974 ("ERISA"), 29 U.S.C. §§ 1132(a)(2) and (5), has filed a Complaint against Defendants SHANNON LESLIE STUART, an individual, STEVEN JOHN SCHMITZ, an individual, and S.J. BURKHARDT, INC. EMPLOYEES' PROFIT SHARING PLAN, an employee benefit plan.

A. The Secretary and DEFENDANT STEVEN JOHN SCHMITZ ("Defendant Schmitz") (collectively, "the parties") admit that the Court has jurisdiction over this action pursuant to ERISA § 502(e)(1), 29 U.S.C. § 1132(e)(1), and that venue lies in the Central District of California pursuant to ERISA § 502(e)(2), 29 U.S.C. § 1132(e)(2).

B. The parties agree to the entry of this Consent Judgment & Order Against Defendant Steven John Schmitz ("Consent Judgment & Order"). The parties further agree that this Consent Judgment & Order shall fully settle all claims of the Secretary asserted in the Complaint against Defendant Schmitz, filed in this matter.

C. The parties expressly waive Findings of Fact and Conclusions of Law.

IT IS HEREBY ORDERED, ADJUDGED, and DECREED that: 1. Defendant Schmitz is liable for $86,421.14 in losses and lost-opportunity costs caused to the Plan as alleged in the Secretary's Complaint, and judgment is hereby entered against him in that amount.*fn1

2. Defendant Schmitz shall restore $86,421.14 to the Plan as set forth in Paragraph 5, infra.

3. Defendant Schmitz is permanently enjoined and restrained from violating the provisions of Title I of ERISA, 29 U.S.C. §§ 1001-1191c.

4. Defendant Schmitz is hereby permanently enjoined and restrained from future service as a fiduciary of, or service provider to, any ERISA-covered employee benefit plan.

5. Defendant Schmitz shall restore to the Plan the amount of $86,421.14 as follows:

a. Beginning on September 1, 2011, Defendant Schmitz shall remit twelve consecutive monthly payments in the amount of $7,201.76 to the Plan's custodian, First Bank, at the following address:

First Bank 11010 Limonite Ave.

Jurupa Valley, CA 92509 All checks should be made out to "S.J. Burkhardt, Inc. Employees' Profit Sharing Plan" and should indicate "Deposit to Account Titled S.J. Burkhardt, Inc. Employees' Retirement Account." The first installment is due and payable on September 1, 2011, and the remaining installments shall be due and payable on or before the same day of each succeeding month thereafter until all installments have been paid.

b. The payments described are summarized ...


Buy This Entire Record For $7.95

Download the entire decision to receive the complete text, official citation,
docket number, dissents and concurrences, and footnotes for this case.

Learn more about what you receive with purchase of this case.