Hewitt Associates LLC Funds stolen from my 401K Lincolnshire, Illinois
I had money stolen from my 401K fund. Hewitt manages those funds for my past company (I'm retired) employees' 401K savings plan.
My account was breached, and a loan was obtained against my funds. The individual changed the direct deposit information to a Right Choice Credit Union in Houston, Texas. The loan was direct deposited to the specified Right Choice C U account.
I was told by my Hewitt assigned contact that the money had been stopped, meaning the money was in the Right Choice C U account. Hewitt was then in the process of reversing the action. I was feeling relatively secure thinking the money was not being spent.
About two and one half weeks later, the local detective assigned to my case (sheriffs department in my county) informed me that Hewitt did try to reverse the action but there was NOT sufficient funds in that account. I feel that I still would not know this information if the detective had not told me!
Another issue/concerned is that the stolen money will be reported by Hewitt as income. I asked my assigned Hewitt contact about this and he did not have an answer when he called last week, but said if would call Monday. This is Wednesday and no call.
There does not seem to be any urgency by Hewitt to resolve the fraudulent activity. I am certain the access info to my account was not obtained from myself or anyone in the household. Of course Hewitt said they did not find any breach on their end.
I can't get any information as to whether there are other accounts with a similar problem, meaning money stolen from their account. I think my next step is the state attorney general.
The fraud occurred on Nov 22, 2011. A month has gone by and I don't have a good feeling about getting my money back.
2 Updates & Rebuttals
yammo
Queensbury,,New York,
USA
This is a little scary
#3Consumer Comment
Mon, December 17, 2012
I have just found out that my pension with Honeywell is now outsourced to Hewitt. I see alot of things on the internet that make me worried about my pension,but one thing is for sure. They have basically locked me out of my online account, and trying to get into it is difficult,when you are dealing with Indian or Malaysian outsourced answering services.But it seems like everyone is complaining about being put in an endless game of poor communication and getting nowhere with these people.
CC Arch
Chicago,Illinois,
United States of America
401(k) thefts
#3Consumer Suggestion
Wed, August 22, 2012
The U.S. Department of Labors Employee Benefits Security Administration (EBSA) is the agency responsible for enforcing the provisions of ERISA that govern the conduct of plan fiduciaries, the investment and protection of plan assets, the reporting and disclosure of plan information, and participants benefit rights and responsibilities.
The Department of Labor enforces the law by informally resolving benefit disputes, conducting official investigations (criminal and civil), and seeking correction of violations of the law, including bringing lawsuits when necessary.
The Department has benefits advisors committed to providing individual assistance to participants and beneficiaries. Participants will receive information on their rights and responsibilities under the law and help in obtaining benefits to which they are entitled.
Contact a benefits advisor electronically by visiting the website at www.dol.gov/ebsa and clicking on Request Assistance or by calling toll free 1.866.444.3272.