401k Fund and Identity Fraud

[Wannafish]

22 months ago I started a new job and started putting money into the 401k investment plan through my employer with Vanguard. 19 months ago I logged into my account on the Vanguard site and found someone else's name on my account. Needless to say I contacted Vanguard immediately.
I was told not to worry, this was obviously a mistake, and that the other person could not get my money, nor see any of my account information, and that they would get his name off my account. Evidently the other person established an account with Vanguard using MY social security number (not a mistake or poor data entry...that was all researched by their legal department). Vanguard has mailed a form to myself and this other person asking for verification of Secial Security number...I responded to the first request, they have not responded to any of the requests.

To keep this message short -
After numerous conversations back and forth over the past 19 months both by me to Vanguard and by my employer to Vanguard, I was told today there is nothing Vanguard can do.

So here I sit - no access to see what my balance is; I do not get statements mailed to me even though I have requested it be done NUMEROUS times (which leads me to believe they are sending them to the other person listed on my account); not able to pull MY money from the fund as it has someone elses name attached to it.

I contacted an attorney who said Vanguard is required by law divulge any and all information to me so I can take that person to court. HA! Try telling Vanguard that!

And for those of you wondering, NO - I do not know the other person, but thier address is in a town about 90 miles from me.

Any suggestions? Hiring an attorney evidently won't help...I'll spend more money than I have accumulated...though who knows where else he may be using my S.S. #. /forums/images/graemlins/confused.gif /forums/images/graemlins/confused.gif

 

[Junkman]

Re: 401k Fund and Identity Fraud *DELETED*

Post deleted by Junkman

 

[Junkman]

I just spoke to my stock broker and he said that your employer is the person that has to resolve the mistake. The employer is the person that makes the monthly contributions and that they are the one that are responsible for making sure that they are going into the correct account. It is the employers responsibility to report your correct name, address, and social security number to Vanguard and to correct any misinformation.
The employer is also required to supply you with all copies of participation agreement and a copy of the summery of the plan. Ask your employer for copies of the 401k application to the plan.
You can also try contacting the fraud division at Vanguard.

 

[kensfarm]

It shouldn't be on your dime.. your employer is responsible for the 401 account.. get them to straighten this mess out. TELL your employer to stop the payments for the 401K going into the account.. by knowing how much you put in every pay period.. you should be able to est. the amount that should be in the account.

It also seems like something might be up w/ your employer.. big company.. small.. something fishy going on.

"though who knows where else he may be using my S.S. #. "

Get a copy of your credit report ASAP..

Contact the IRS.. this will affect your taxes too! Let them know the situation.. they frown on SS# fraud. They may be able to help or give advise on a course of action you can take.

Hope it works out.

 

[BillyP]

Contact the Social Security Administration. This is a tale tale sign of an illegal alien using your SSN. A lot of times the SS office will catch this by seeing where a person with two incomes but in different parts of the US are paying SS at the same time.

 

[riptides]

Get with your employer ASAP. They would like to respond to it. I hope, because they are making payments to someone who may not be providing them with a service.

Identity Theft is a real problem, good luck with it.

The FTC might be an avenue for you to use.

FTC ID Fraud

-Mike Z.

 

[BXMMCC]

Years ago, I worked with some people who were involved with payroll for one of the very large US companies. Found out something very interesting - over 200,000 employees - 6 or 7 cases of duplicate social security numbers! Don't know if it still happens, do know that you should request a statement of earning credits every few years from the SSA.

 

[rdam]

Contact the big three credit reporting agencies (Experian, Equifax, TransUnion) and place fraud alerts with all three immediately. Pull and review your reports from all three.

 

[Wannafish]

"I just spoke to my stock broker and he said that your employer is the person that has to resolve the mistake. The employer is the person that makes the monthly contributions and that they are the one that are responsible for making sure that they are going into the correct account."

My money is going into my account, as evidenced by the Name and Social Security Number on the account. Per Vanguard, the other person cannot take money out of my account...unfortunately, neither can I without his authorization /forums/images/graemlins/mad.gif.

 

[Wannafish]

"TELL your employer to stop the payments for the 401K going into the account.. by knowing how much you put in every pay period.. you should be able to est. the amount that should be in the account."

Kensfarm,
I've stopped the contributions...I waited until end of fiscal year to do so to collect profit sharing. Due to profit sharing linked to success of company I had an "idea" of how much was in there, but not an actual value. I have since obtained a statement from Vanguard showing amount invested.

...And credit reports have been requested.

Thank you!