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Owner must terminate company 401(k) plan and be removed as plan fiduciary, court says

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litigation

Hahn takes steps to terminate the plan and is removed as a fiduciary as required by the court order.

Source summary
A federal court entered a consent order on Dec. 16, 2025, requiring Infrastructure & Development Engineering Inc. and its owner, James Hahn, to restore $45,699.63 to employee and former-employee accounts in the company's 401(k) plan after the Department of Labor found they failed to remit contributions and prudently manage the plan from Feb. 10, 2017, to Aug. 19, 2022. Hahn and the company were also assessed a $9,139.93 civil penalty. After restoring the funds, Hahn must take steps to terminate the plan and be removed as a fiduciary. EBSA pointed to its correction programs and provided contact information for employers and workers with questions.
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Latest fact check

The U.S. Department of Labor’s January 14, 2026 news release on the consent order in U.S. District Court for the Southern District of Ohio explicitly states: “After restoring the retirement assets, Hahn must take steps to terminate the Infrastructure & Development Engineering Inc. 401(k) Plan and be removed as a fiduciary to the plan.” This is described as a requirement imposed “under the court order.” A republished version of the same DOL release repeats this language verbatim. These sources directly support the statement about what the court order requires of Hahn.

Verdict: True, because the Department of Labor’s description of the consent order explicitly states that, after restoring the assets, Hahn must take steps to terminate the 401(k) plan and be removed as a fiduciary.

Sources

Timeline

  1. Update · Jan 15, 2026, 03:08 AMTrue
    The U.S. Department of Labor’s January 14, 2026 news release on the consent order in U.S. District Court for the Southern District of Ohio explicitly states: “After restoring the retirement assets, Hahn must take steps to terminate the Infrastructure & Development Engineering Inc. 401(k) Plan and be removed as a fiduciary to the plan.” This is described as a requirement imposed “under the court order.” A republished version of the same DOL release repeats this language verbatim. These sources directly support the statement about what the court order requires of Hahn. Verdict: True, because the Department of Labor’s description of the consent order explicitly states that, after restoring the assets, Hahn must take steps to terminate the 401(k) plan and be removed as a fiduciary.
  2. Original article · Jan 14, 2026
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