Money deducted from your paycheck for retirement typically gets deposited quickly into your 401(k) plan. But this isn’t always the case. Sometimes this money ends up in another account. In most circumstances, the missing money is nothing more than an unintentional mistake; other times it is a case of embezzlement. Employees and executives need to understand how to protect themselves and safeguard their retirement assets.
The remainder of this article, Is Your 401(k) Plan Secure?, can be found at Yahoo Finance. The most interesting part of researching this article was reading the litigation summaries at the Department of Labor web site. In some, it is the business owner embezzling, some the CFO, some the trusted advisor and some the payroll processor.
If you know what can go wrong in a 401(k), 403(b) or other type of retirement plan, you’ll be more likely to identify a problem if it happens in your account. You can read the rest of the story here.