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Judge orders Ohio company to restore $505,000 to two retirement plans

Individuals who had control over two retirement plans in Columbus, Ohio, owe the plans more than half a million dollars and were ordered by a federal judge to pay the money back.

By Paula Aven Gladych | Updated on July 18, 2012

A federal judge has ordered Mary Clark, president of Columbus, Ohio-based Clark Graphics, to restore more than half a million dollars to the company’s two employee retirement plans. Marcia Dowdell, the president of Pension Retirement Planning, who served as administrator for the plans, also was ordered to restore funds.

The U.S. Department of Labor filed suit against the company after the Employee Benefits Security Administration conducted an investigation and found that the company’s plans had insufficient oversight and there was mishandling of plan assets resulting in multiple violations of the Employee Retirement Income Security Act.

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