The opinion of the court was delivered by: Lawrence J. O'Neill United States District Judge
CONSENT JUDGMENT AND ORDER
Plaintiff HILDA L. SOLIS, Secretary of Labor, United States Department of Labor ("Secretary") pursuant to her authority under Sections 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 Defendant HI-COUNTRY ELECTRIC, INC. ("Hi-Country" or "Company"), a California corporation, Defendant ROB L. FRITZEMEIER ("Fritzemeier" or "Trustee"), an individual, and Defendant HI- COUNTRY ELECTRIC 401(k) PLAN ("401(k) Plan" or the "Plan"), an employee benefit plan within the meaning of Section 3(3) of ERISA, 29 U.S.C. § 1002(3).*fn1
A. The Secretary, Hi-Country, Fritzemeier, and the Plan (collectively, the "Parties") admit that the Court has jurisdiction over this action pursuant to ERISA Section 502(e)(1), 29 U.S.C. § 1132(e)(1), and that venue lies in the Eastern District of California pursuant to ERISA Section 502(e)(2), 29 U.S.C. § 1132(e)(2).
B. Defendants Hi-Country, Fritzemeier, and the Plan (collectively the "Defendants") waive filing of an Answer and entering any affirmative defense, counterclaim, or third-party complaint, or any other defenses that they may have in this case.
C. The Parties agree to the entry of this Consent Judgment and Order. The parties further agree that this Consent Judgment and Order shall fully settle all claims of the Secretary asserted in the Complaint filed in this matter.
D. All parties expressly waive Findings of Fact and Conclusions of Law. IT IS HEREBY ORDERED, ADJUDGED, and DECREED that:
1. Defendant Fritzemeier is permanently enjoined and restrained from violating the provisions of Title 1 of ERISA, 29 U.S.C. §§1001-1191(c).
2. Defendant Hi-Country is hereby removed as Plan Administrator and fiduciary of the Plan.
3. Defendant Fritzemeier is hereby removed as a fiduciary of the Plan, subject to the exceptions set forth in Paragraphs 4, 7 and 8 below.
4. Defendant Fritzemeier shall succeed as Plan Administrator and shall remain a fiduciary of the Plan solely for the purpose of making distributions of the assets of the Plan and implementing the termination of the Plan, in accordance with the instructions set forth below in Paragraphs 7 and 8. After Defendant Fritzemeier fulfills the duties set forth in Paragraphs 7 and 8, he shall immediately be removed from his positions as Plan Administrator and fiduciary of the Plan.
5. Defendant Fritzemeier is permanently enjoined and restrained from future service as a fiduciary of, or service provider to, any ERISA-covered employee benefit plan subject to the exceptions set forth in Paragraphs 4, 7 and 8 herein.
6. Within fifteen (15) calendar days following the Court's entry of this Con-sent Judgment and Order, Defendant Fritzemeier shall provide a copy of this Consent Judgment and Order to the Plan's custodial trustee, ING, North America Insurance Corporation ("ING").
7. Within thirty (30) calendar days following the Court's entry of this Consent Judgment and Order, Defendant Fritzemeier shall take the following action:
(a) Defendant Fritzemeier shall notify ING of the Plan's terminated status in writing, and shall authorize and direct ING, in writing, to make distributions to all eligible participants and/or beneficiaries in accordance with the Plan terms and the partici-pant's and/or beneficiary's elected method of receipt of the funds (e.g., via lump-sum distribution to the participants or a direct rollover into another qualified retirement ac-count belonging to the participant and/or ...