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  1. kwalified
    A plan sponsor had a former employee embezzle funds. It appears as if phony accounts MAY have been set up in their 401(k) to allow this employee to have access to additional money. One of the participants(not the embezzler) with an account in question is requesting his money and submitted distribution paperwork in August 16. The plan sponsor ignored the request and the distribution request expired in November. The plan sponsor did not provide the former employee written notice regarding the plan going into arbitration and the fact that his account is under scrutiny. The former employee has since submitted another request for distribution. Should the Plan Sponsor provide written notification now or should alternative action be taken (EPCRS)?
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