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Retirement Plan › 401k › Embezzlement

Blank Rome LLP

Court: Federal Restitution Rights Override ERISA 401(k) Plan Protection

Blank Rome LLP on

A federal appeals court recently ruled that an employer was entitled to a former employee’s 401(k) plan funds as restitution for that employee’s embezzlement. However, writes Dan Morgan of Blank Rome, the court failed to...more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

Assets being stolen, it can happen, it has happened

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

A third-party administrator (TPA) and/or plan fiduciary stealing plans assets is easier than you think. TPA Vantage Benefits stole $14 million from 6-7 of their clients wasn’t be surprising to me because I saw it before with...more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

Matrix sued, but there is a vantage to the story

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

Matrix Trust Co. is being sued in a 401(k) class-action lawsuit by a Minnesota engineering firm that alleges that Matrix took millions of dollars from retirement plan accounts. MBA Engineering alleges that Matrix Trust...more

Stinson - Benefits Notes Blog

Embezzlement of 401(k) Deferrals by COO of Architecture Firm is (Doubly) Costly

Stinson - Benefits Notes Blog on

On March 22, 2017, the U.S. Court of Appeals for the Second Circuit ruled against Christine Bodouva that her restoration of funds to her Company’s 401(k) Plan should be offset against the District Court’s order for forfeiture...more

Stinson - Benefits Notes Blog

You Cannot Take The Embezzler’s 401(k) Plan Balance

Stinson - Benefits Notes Blog on

Many employers know that with few exceptions a participant’s benefit in a tax qualified retirement plan is protected from the participant’s creditors. One exception is for court orders, known as qualified domestic relations...more

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