Macristy settles, repays $2.1M

New Britain-based Macristy Industries Inc. has repaid $2.1 million to its employees’ pension plan and its president has been stripped of his fiduciary responsibility for the plan as part of a legal settlement, federal labor officials announced. A lawsuit filed earlier this year accused President Jeffrey Barlow of transferring nearly $2.6 million out of the retirement and into Macristy’s coffers. The plan had 286 participants. Macristy is the holding company for several area manufacturers, including Connecticut Stamping and Bending and Plumb E-Z Manufacturing Co. Macristy must now pay the costs to have an independent trustee for the plan.