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Looking for some advice here because I am not sure what our options are in this case.
Within the last couple weeks my wife discovered a couple of shocking items about her job. She works for a small business and its recently had some apparent financial trouble. First it was one persons check bounced then another and another, I think 5 or 6 in the past month. Never hers though. This put us on edge so she began looking for new work, but is not having the best of luck so far. She went and got the office mail just last week and in the mail were 401k statements. Something we never thought about and realized we haven't seen a statement in over a year. She opened hers and NOTHING has been deposited into her account since Dec 2015. Several thousand dollars of hers has been stolen. She confronted the owner and he pulled the sad story of things are tight and he will fix it when he can.
With payroll checks bouncing left and right and now the stolen 401k money, there is obvious signs the business is failing and could close any day. Do we have any options to attempt to recover this money before the business closes its doors completely? We do need her income so its not something she can just walk away from and she takes time off to find a new job either.
I have no idea what to do in this case, do we have options or are we just SOL at this point because we didnt monitor it close enough? She did cancel all 401k deductions since it just goes straight back to the owners pocket.
Thanks in advance guys, this is really stressful and I am having trouble researching how to handle this.
Within the last couple weeks my wife discovered a couple of shocking items about her job. She works for a small business and its recently had some apparent financial trouble. First it was one persons check bounced then another and another, I think 5 or 6 in the past month. Never hers though. This put us on edge so she began looking for new work, but is not having the best of luck so far. She went and got the office mail just last week and in the mail were 401k statements. Something we never thought about and realized we haven't seen a statement in over a year. She opened hers and NOTHING has been deposited into her account since Dec 2015. Several thousand dollars of hers has been stolen. She confronted the owner and he pulled the sad story of things are tight and he will fix it when he can.
With payroll checks bouncing left and right and now the stolen 401k money, there is obvious signs the business is failing and could close any day. Do we have any options to attempt to recover this money before the business closes its doors completely? We do need her income so its not something she can just walk away from and she takes time off to find a new job either.
I have no idea what to do in this case, do we have options or are we just SOL at this point because we didnt monitor it close enough? She did cancel all 401k deductions since it just goes straight back to the owners pocket.
Thanks in advance guys, this is really stressful and I am having trouble researching how to handle this.