U.S. Department of Labor (DOL) is suing a Keene-based rehabilitation therapy practice after investigators discovered that the owner had been deducting retirement plan contributions from employees’ paychecks for the past two years without forwarding any money to the plan.
The DOL’sSecurity Administration is suing the owner of PROS Rehabilitation for $136,484 in missing contributions and $24,464 in gains the fund would have realized had the contributions been made on time. That kind of fiduciary breach violates the Employee Retirement Income Security Act (ERISA).
PROS Rehabilitation provides therapy services at skilled nursing facilities across the state.
The missing contributions affected approximately 18 employees’ accounts.
Note: Retirement plans are not employer piggy banks.
Employers must immediately forward-deducted contributions to the employees’ retirement plan accounts.