SEATTLE — Former employees of a defunct Washington aerospace company are a step closer to accessing retirement savings frozen since the business closed in 2023. A federal court has appointed an independent fiduciary to manage the Commercial Aircraft Interiors LLC 401(k) plan.
AMI Benefit Plan Administrators will be able to distribute assets to eligible participants and formally terminate the plan. The Labor Department said the plan holds approximately $260,000 for 59 participants.
The Arlington-based company’s only responsive representative, Charles Pratt, lacked the legal authority needed to approve distributions. That left former employees unable to obtain their money even though a company contact remained available…