Covington, Ky. — Ronald Barnett Hill, 49, of Ft. Mitchell, Kentucky, was sentenced today to 30 months in federal prison by United States District Judge David Bunning for embezzling $248,000 from his wife’s employee benefit plan.
Hill previously admitted that, in January, July and November 2013 he withdrew a total of $248,000 from a 401(k) account belonging to his wife. The 401(k) account was part of a defined contribution pension plan subject to Title I of the Employee Retirement Income Security Act of 1974. Hill owned and operated TPS Solutions, a corporation located in Kenton County, and as such was a fiduciary of the 401(k) funds held in accounts of its employees, including his wife. Hill stole nearly all of the money in his wife’s account by fraudulently completing a hardship withdrawal form, forging his wife’s signature, and signing the form as the Trustee authorized to complete the withdrawal. Hill pleaded guilty to the charges in March 2018.
Under federal law, Hill must serve 85 percent of his prison sentence, and, upon release, will be under the supervision of the United States Probation Office.
Robert M. Duncan, Jr., United States Attorney for the Eastern District of Kentucky, made the announcement today after the sentencing.
The investigation was conducted by the Federal Bureau of Investigation and the United States Department of Labor, Employee Benefits Security Administration. The United States was represented by former Assistant United States Attorney Robert K. McBride and Assistant United States Attorney Wade T. Napier.
Department of Justice
Office of the U.S. Attorney
Eastern District of Kentucky