Free Default Judgment - District Court of Delaware - Delaware

Case 1 :05-cv—00843-GIVIS Document 13 Filed 04/07/2006 Page 1 of 2
IN THE UNITED STATES DISTRICT COURT
FOR THE DISTRICT OF DELAWARE
ELAINE L. CHAO, SECRETARY OF LABOR, :
UNITED STATES DEPARTMENT OF LABOR,
: CIVIL ACTION
Plaintiff,
v. : N0. 05-843 (GMS)
IT FACTORY SOLUTION, INC., and PUTNAM :
FIDUCIARY TRUST COMPANY,
Defendants i
DEFAULT JUDGMENT
Plaintiff having filed her Complaint herein, and defendant IT Factory Solution, Inc.
("ITFS") having failed to answer or otherwise defend against the Complaint, and the plaintiff
having moved the Court to enter default judgment in favor of the plaintiff and against defendant
ITFS for failure to answer or otherwise defend against plaintiffs Complaint; and it appearing by
affidavits filed of record that ITFS is the Plan Administrator and fiduciary ofthe Solutions by
Design, Inc. Money Purchase Plan ("the Plan"), and in that capacity at relevant times violated
ERISA §§ 404(a)(l)(A) and 404(a)(l)(B), and that such violations have prevented the
distribution of Plan assets to the participants and beneficiaries, it is hereby
ORDERED, ADIUDGED AND DECREED by the Court:

Case 1 :05-cv—00843-GIVIS Document 13 Filed 04/07/2006 Page 2 of 2
l. That defendant ITFS is removed from its position as fiduciary with respect to the
Plan and that Jacqueline Carmichael ("Carmichael") is appointed as an independent fiduciary to
administer the Plan in order to effectuate its termination, including the distribution of Plan assets
to the participants and beneficiaries;
2. That for the seryices performed pursuant to this Default Judgment, the
independent fiduciary shall receive $7,700 for fees and expenses;
3. That defendant Putnam Financial Trust Company is directed to turn the assets of
the Plan over to the independent fiduciary appointed by the Court to administer the Plan.
IT IS FURTHER ORDERED, ADJUDGED, AND DECREED that costs will be allowed
the plaintiff against defendant IT Factory Solutions, Inc.
Dated:°"fl7/of gf L )
Unit d tates istrict Judge