News & Analysis as of

401k › Theft

Haynsworth Sinkler Boyd, P.A.

Can employers face liability when a cyber-attacker steals funds from an employee's individual 401(k) account?

Haynsworth Sinkler Boyd, P.A. on

Retirement plans face increased risks for cyber-attacks resulting in theft of plan assets. Few entities can keep up with the pace set by cyber-criminals for theft from accounts, and security requirements for industries...more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

Crypto theft is another strike against Bitcoin 401(k)

Ary Rosenbaum - The Rosenbaum Law Firm P.C. on

While technology makes it easier for bad actors to steal the retirement assets of plan participants, it’s far easier to steal from 401(k) plans with crypto investments. 401(k) plans that have Bitcoin investments would have a...more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

Retirement Plan Advisors Advantage - November 2019

Ary Rosenbaum - The Rosenbaum Law Firm P.C. on

....One More Thing For Plan Providers, Some points to ponder. When Steve Jobs would lead an Apple press conference, he would always end it with "one more thing," which was an important announcement of a new Apple product....more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

The thing about stealing plan assets

Ary Rosenbaum - The Rosenbaum Law Firm P.C. on

I have been an ERISA attorney for 21 years now and the biggest thing that amazes me is when a fiduciary to a plan steals money from a 401(k) plan. I’ve seen plan sponsors do it, I’ve seen employees do it, and I’ve seen plan...more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

That Estee Lauder 401(k) case is troubling

Ary Rosenbaum - The Rosenbaum Law Firm P.C. on

I worked at a third-party administration (TPA) where one of our administrators tried to steal money from a participant’s account and transfer it to his Individual Retirement Account (IRA),. The only reason he got caught...more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

The Boogeyman of MEPs

Ary Rosenbaum - The Rosenbaum Law Firm P.C. on

When they’re always talking about multiple employer plans (MEPs) and the tribulations with that 2012 Department of Labor (DOL) advisory opinion and the latest proposed regulations, talk often surrounds Matt Hutcheson....more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

Another Vantage lawsuit with an advisor twist

Ary Rosenbaum - The Rosenbaum Law Firm P.C. on

A great scene is in GoodFellas is when Jimmy chastises Henry for getting arrested because he allowed himself to be incriminated through wiretaps. For years, I’ve been warning advisors about the referrals they make and it...more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

401(k) Plan Sponsor Steals Assets To Support Country Club Life

Ary Rosenbaum - The Rosenbaum Law Firm P.C. on

One of my favorite lines from Seinfeld is when George Costanza gets a job where Elaine works at Pendant Publishing. He’s fired for having sex in the office with the cleaning woman. George pardons ignorance, asking whether it...more

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