A federal judge has ordered Mary Clark, president of Clark Graphics, in Columbus, Ohio, to restore $505,551 to the company's two employee retirement plans following a lawsuit filed by the U.S. Department of Labor.

Under the settlement, Marcia Dowdell, president of Pension Retirement Planning who acted as the administrator for the plans, must restore funds to both plans.

According to the DOL lawsuit, there was insufficient oversight and mishandling of plan assets, which ended in multiple violations of the Employee Retirement Income Security Act, and Clark Graphics' owners did not adequately perform their fiduciary responsibilities as plan trustees when they failed to monitor the actions of the plans' administrator as well as review and reconcile the plans' trust account statements, review participant distribution calculations and require the administrator to issue participant statements. The judgment also states that Dowdell did not maintain accurate records for participants in both plans, resulting in some participants not receiving the correct retirement benefits.

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