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DOL Home > OALJ > ERISA > USDOL v. BR Holdings, Ltd., 97-RIS-11 (ALJ May 2, 1997)
USDOL/OALJ Reporter
USDOL v. BR Holdings, Ltd., 97-RIS-11 (ALJ May 2, 1997)
U.S. Department of Labor
Office of Administrative Law Judges
800 K Street, NW
Washington, DC 20001-8002 Date Issued: May 2, 1997
Case No.: 97-RIS-11
In the Matter of:
UNITED STATES DEPARTMENT OF LABOR,
PENSION AND WELFARE BENEFITS
ADMINISTRATION,
Complainant
v.
BR HOLDINGS, LTD. d/b/a
RACINE STEEL CASTINGS,
Respondent
Before: JOHN M. VITTONE
Chief Administrative Law Judge
DECISION AND ORDER This case arises under the Employee Retirement Income Security Act of 1974 (ERISA), 29 U.S.C § 1100 et seq. and the regulations enacted thereunder at 29 C.F.R. Parts 2560 and 2570.
On September 6, 1996, the Pension and Welfare Benefits Administration of the U.S. Department of Labor (DOL), issued a Notice of Intent to Assess a Penalty against BR Holdings, Ltd. d/b/a Racine Steel Castings (Respondent) for $840,000. DOL alleged that Respondent failed to file satisfactory annual reports of Form 5500 as required by ERISA for the years 1988 through 1994. In the Notice, Respondent was given an opportunity to file a Statement of Reasonable Cause and on October 4, 1996, Respondent filed such a Statement. On December 16, 1996, DOL issued a Notice of Determination on Statement of Reasonable Cause. Therein, DOL waived $798,000 of the assessed civil money penalty and decided "that there is no reasonable cause to waive $42,000 of the penalty" against Respondent for violating ERISA. Respondent requested a hearing before this Office on January 17, 1997.
Pursuant to 29 C.F.R. § 2570.65, DOL and Respondent have negotiated a settlement of all disputed claims. On arch 26, 1997, the parties filed a joint Settlement Agreement and Stipulation for Dismissal with Order (Settlement). The parties request review of the Settlement and an order disposing of this proceeding. DOL has agreed to reduce the assessed civil money penalty to $25,000 with interest. Respondent has agreed to pay the reduced penalty as outlined in the Settlement. Respondent states that it is now in compliance with the reporting require-ments of ERISA. Further, the parties agreed that this Office shall retain jurisdiction over this matter until the financial agreement is completed. After that, this matter shall be dismissed with prejudice.
Upon review of the record, the Settlement Agreement and Stipulation for Dismissal with Order is APPROVED. This agreement constitutes full and final resolution of this matter. It is ORDERED that:
1) this order shall have the same force and effect as an order made after full hearing; 2) the entire record on which this order is based shall consist solely of the notice of administra- tive determination and this Agreement; 3) any further procedural steps before this Office are waived; 4) any rights to challenge or contest the validity of this order entered into in accordance with this agreement are waived; and 5) this Decision and Order is the final agency action.
It is further ORDERED that after the completion of the financial arrangement, this matter be DISMISSED with prejudice.
JOHN M. VITTONE
Chief Administrative Law Judge
Washington, DC
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