The DoL’s two suits against the Prime Care Services
Inc. plans in Southfield, Michigan claim that Paterno
Dorenza – the co-owner of Prime Care Services and the
trustee of the plans – failed to take responsibility for
the plans when the company stopped doing business in 2006.
At the time the company closed, Prime Care Services Inc. 401(k) Savings Plan and Trust had $570,294.42 in assets and 77 participants. The Prime Care Services Inc. Money Purchase Pension Plan held $585,648.75 in assets for 64 participants.
Both suits were filed in the federal district court in Detroit, Michigan and seek to appoint an independent fiduciary to manage the plans, terminate them and distribute their assets to eligible participants and beneficiaries.
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