The Motley Fool Discussion Boards

Previous Page

Investing/Strategies / Retirement Investing

URL:  https://boards.fool.com/rharmelink-quotthere-have-even-been-cases-where-32160247.aspx

Subject:  Re: Attitude Question - SS Date:  3/15/2016  11:52 AM
Author:  JAFO31 Number:  79331 of 97361

rharmelink: "There have even been cases where the corporation illegally raided the 401K accounts in order to get operating funds, then gone belly up."

Raided 401-k accounts?

Do you have a few examples of companies that raided 401-k accounts?

The most I recall reading is failure to deposit, but I do not recall ever hearing about illegal withdrawals by plan sponsors. Pension funds, OTOH, were often raided by changing estimates and formulas and allowed the company to call it "overfunded" and then remove the excess amount.

Regards, JAFO
Copyright 1996-2020 trademark and the "Fool" logo is a trademark of The Motley Fool, Inc. Contact Us