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Violation Tracker Individual Record

Company: Sypris Solutions Inc.
Penalty: $632,500
Year: 2023
Date: September 28, 2023
Offense Group: employment-related offenses
Primary Offense: benefit plan administrator violation
Violation Description: Sypris Solutions Inc. -- a Louisville, Kentucky, technology services provider -- and members of its retirement savings plan advisory committee failed to follow its own governing documents regarding the use of forfeiture funds for several of its 401(k) plans.
Level of Government: federal
Action Type: agency action
Agency: Employee Benefits Security Administration
Civil or Criminal Case: civil
Source of Data: (click here)
Archived Source: (click here)
Current parent company note: Parent-subsidiary relationship is current as of the most recent revision listed in the Update Log.