AP: Company to restore money taken from pension plan

[Omaha Steve]

http://www.miamiherald.com/2010/04/05/1564507/company-to-restore-money-taken.html

Posted on Monday, 04.05.10

The Associated Press

MIAMI -- The U.S. Department of Labor is suing a a vegetable packing company based in Miami-Dade County for taking $3.7 million from its employees' pension plan.

The lawsuit filed in Miami on March 30th accuses the trustees of the Orrin H. Cope Produce Inc. of taking money out of the profit sharing pension plan and using it for the company. The trustees made four withdrawals from the plan between July 2007 and March 2008 in violation of the Employee Retirement Income Security Act.

The attorney for the company, Bob Friedman, said Monday that the company "borrowed" the money and had worked out a settlement in advance of the filing by the federal government to restore the entire amount taken.