US Department of Labor obtains judgment to recover $100K in retirement funds and interest from Bay Area dentist

Summary:

The U.S. Department of Labor has obtained a default judgment against Paul G. Fillet DMD Inc. and Dr. Paul G. Fillet for illegally withdrawing over $85,000 of employees' retirement money and abandoning the plan, leaving two participants with limited access to their $160,000 in retirement savings. The judgment orders Fillet and his practice to restore the funds, including interest, and prohibits him from serving as a fiduciary of any ERISA-covered employee benefit plan. Investigators found that Fillet's practice failed to distribute the remaining assets of the retirement plan after going out of business, violating the Employee Retirement Income Security Act (ERISA).