Administrator named for Five Star Industrial’s 401(k)

A Pittsburgh-based benefits administrator has been named to run the 401(k) plan of a defunct West Chester company.

The U.S. Department of Labor announced Monday that Five Star Industrial Services had not appointed anyone to run the plan, which it set up in 1985 and managed until 1995, when the company closed.

Metro Benefits Inc. will be the plan's independent fiduciary, the Labor Department said.

The Labor Department said that former employees of the mechanical-engineering company had not been able to access their accounts.

The suit was filed in the U.S. District Court for the Eastern District of Pennsylvania.

The Labor Department also said it has filed a suit, in U.S. District Court for the District of New Jersey, to name someone to run the 401(k) plan for C.R. Warner Inc., which had been the region's largest oil-recycling and -processing company. The company had had operations in Philadelphia and New Jersey.

The company closed in 2000, and had about $38,969 in plan assets.