Compliance News
Compliance
Legislative and Judicial Actions
DOL issues missing participant guidance; a plan trustee is sued for an unauthorized distribution; Washington extends certain CARES Act provisions; and more.
Parties in Lawsuit About 401(k) Account Fraud Agree to Settle
According to the complaint, an unknown person or persons stole a participant’s retirement savings by withdrawing a total of $99,000 in three separate unauthorized distributions from her account in the plan.