Amanda Otter was used to her 401(k) balance fluctuating with the markets. But when she logged into her account one day, she discovered the value was down for another reason: some of her retirement savings was missing.
Her employer had deducted a couple of thousand dollars from her paycheck in early 2022 to put into her retirement account, but less than half that amount was transferred over. A lot more cash would eventually vanish. Otter embarked on a three-year hunt that laid bare just how difficult it can be for employees to recover missing 401(k) money.
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