Texas: 83yr Old Fathers 401k Account Was Stolen
Location: Texas My father retired in 2024 but left his 401k in place. He only took two distributions, about 20k each give or take in 2025. He received a 1099R yesterday for a total distribution of over 300K with a code 7. My father did NOT withdraw that money. I had him take the 1099 to the secretary of his old employer and she called me today just sick because him and three other employees that been there for years, I'm talking over 20 years, were hit. My dad took the biggest hit for theft. She said they are in contact with Ascensus and a Financial service and trying to find out who took the money but told me to tell my dad that Ascensus is insured and bonded and he will get his money back, but its a process and won't be today or tomorrow. My father is a worrier especially coming to the money he worked his entire life for. Is this something he needs a lawyer for, or not yet? Will they really get him his money back with a claim or something? Never had to deal with this so I want to be prepared to help.
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