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.