DOL Files ERISA Suit Against Tennessee College

Law360, New York (February 15, 2008, 12:00 AM EST) -- The U.S. Department of Labor has filed a civil suit against Knoxville College and its former president for allegedly misappropriating employee retirement funds, the latest in a series of financial woes at the tiny liberal arts institution in recent years.

U.S. Secretary of Labor Elaine L. Chao filed the suit on Wednesday in the U.S. District Court for the Eastern District of Tennessee, claiming the Presbyterian-related college in Knoxville, Tenn., both delayed and failed to transfer employee retirement contributions in violation of the Employee Retirement Income...
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