Check Your Deferred Comp
- Federal authorities are investigating how $2.6 million was taken from the retirement accounts of 58 city of Chicago employees via fraudulent loans.
Nationwide Retirement Solutions, the company that administers the city’s deferred-compensation accounts, spotted a series of suspicious transactions involving about 91 of the 36,000 employee accounts, city officials said Saturday. The accounts are similar to 401(k) accounts.
The company alerted city workers who were victims of the hack and refunded the missing money to their accounts, officials said.
An unsubstantiated rumor that we're starting right now implicates the 5th Floor at City Hall stealing money from accounts to pay for some unspecified Rahm-project next month.
Labels: info for the police