The Department of Labor (DOL) announced that it is suing the fiduciaries of the architectural company Milton Pate and Associates. Based on findings from a 401(k) plan audit, the suit alleges that Milton Pate, Sr. took a loan from the plan and is in default by $94,778. His son took out three loans from the plan and also has an outstanding loan balance. The third issue in the lawsuit—the hot-button issue for the DOL—is the delay in depositing employee contributions from employees’ paychecks into the 401(k) plan’s trust. Employers are required to deposit employee contributions “as soon as the contributions can be segregated.” This is a high standard. If you can segregate employee benefit contributions and make deposits in 24 hours, this becomes the standard to which you will be held.