Plan shut down.(HEALTH CARE & BIOTECH)(Department of Labor shuts International Union of Public and Industrial Workers Canadian Benefit Fund)(Brief article)

From: Los Angeles Business Journal | Date: April 2, 2007| Author: | Copyright information

The U.S. Department of Labor has obtained a consent judgment shutting down Paramount-based International Union of Public and Industrial Workers Canadian Benefit Fund, which investigators characterized as a "sham" health plan.

The judgment also restores $542,727 to pay pending health claims of more than 2,000 workers and families, removes officials from their positions with the fund and appoints an independent fiduciary to manage the fund's $762,606 in assets, pay health claims and eventually terminate the plan.

Marketed nationwide, the fund covers employees in two ...

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