Benefits Questions

[Guest Linda Valenta]

I requested, in writing, my former employee to transfer 401K funds in a Norwest Account to Janus via a wire transfer. Without calling to tell me the funds could not be wire transferred, he used the wire transfer account information and Norwest Mailed a check to the bank where the wire transfer should have been sent. This resulted in a delay of over a month because the funds were lost. The delay resulted in my loosing over $8,000 since I was unable to reinvest the funds at a lower rate. I believe the Plan Administrator had a ficuciary responsibility to contact me to obtain correct mailing information and that he is at fault for the loss and he should reimbursement me for the money I should have had. Am I correct in that assessment. Is there a particular part of the Erisa Law that relates to this? Thank you!