I have been an ERISA attorney for 21 years now and the biggest thing that amazes me is when a fiduciary to a plan steals money from a 401(k) plan. I’ve seen plan sponsors do it, I’ve seen employees do it, and I’ve seen plan providers do it. I knew Matt Hutcheson and Jeff Richie.
What amazes me about it is that eventually if you steal, you will be found out. Stealing millions or even thousands of dollars will be eventually detected. You have a better shot of wearing pantyhose on your head and robbing a bank in getting away with it than stealing from a 401(k) trust where your fingerprints will be everywhere.
So don’t steal, it will never work out.