Free Motion for Default Judgment - District Court of Delaware - Delaware

Case 1 :O5—cv—OO843-Gl\/IS Document 1 1-3 Filed O2/07/2006 Page 1 of 3
IN THE UNITED STATES DISTRICT COURT
FOR THE DISTRICT OF DELAWARE
ELAINE L. CHAO, SECRETARY OF LABOR, 1
UNITED STATES DEPARTMENT OF LABOR,
1 CIVIL ACTION
Plaintiff e
v. 1 No. 05-843 (GMS)
IT FACTORY SOLUTION, INC., and PUTNAM ;
FIDUCIARY TRUST COMPANY,
DECLARATION OF IN SUPPORT
OF PLAINTIFF'S MOTION FOR DEFAULT JUDGMENT
I, Deborah A. Fee, hereby state that I am an Investigator with the Washington
District Office of the Employee Benefits Security Administration ("EBSA"), United _
States Department of Labor, and make this declaration in support of Plaintiff s Motion
for Default Judgment pursuant to Section 1746 of Title 28 of the United States Code:
1. In the course of my duties with EB SA, I was assigned to conduct an
investigation of the Solutions by Design, Inc. Money Purchase Plan (the "Plan") to
determine whether any violations of Title I of the Employee Retirement Income Security
Act of 1974 had occurred or were about to occur.
2. My investigation has revealed the following facts:
a. IT Factory Solution, Inc. ("ITFS") is currently a void corporation
under the laws of Delaware and was involuntarily dissolved by the Delaware
Secretary of State.
b. Solutions by Design, Inc. ("SBD"), a Virginia corporation, was the
administrator and sponsor of the Solutions by Design, Inc. Money Purchase Plan.
A gaovzanmem
§ EXHIBIT

Case 1:O5—cv—OO843-GI\/IS Document 11-3 Filed O2/07/2006 Page 2 of 3
c. In May 2000, SBD was acquired by IT Factory, Inc. ("ITF") and
was merged with ITFS, a wholly owned subsidiary of ITF.
d. After the merger of SBD and ITFS, ITFS became the trustee ofthe
Plan and the Plan Administrator.
e. The Plan is an employee benefit plan within the meaning of
Section 3(3) ofERISA, 29 U.S.C. § l002(3).
f Putnam Fiduciary Trust Company ("Putnam") is the custodian of
the Plan assets.
g. In December 200l, ITF ceased doing business in the United States,
and ITFS subsequently filed for bankruptcy and dissolved.
h. As of December 200I, ITFS stopped making contributions to the
Plan.
i. Since ITF S ceased operations, it has not taken fiduciary I
responsibility for the operation and administration of the Plan and its assets, nor has it
appointed anyone to assume said responsibility.
j. Since ITFS ceased operations, participants and beneficiaries of the
Plan have not been able to obtain distributions from the Plan of their individual account
balances.
k. In December 2000, the Board of Directors of ITFS passed a
resolution that the Plan be terminated. However, the termination was never effectuated.
p l. Once the Plan is terminated, the terms of the Plan require the
trustee to distribute the Plan assets to the participants and beneficiaries,
The foregoing statements are true and correct to the fullest extent of my
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Case 1:O5—cv—OO843-GI\/IS Document 11-3 Filed O2/07/2006 Page 3 of 3
knowledge, information and belief I so declare under penalty of perjury.
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kg p 4 Deborah A, Fee
Date; 5 fg? gr
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