According to the complaint, none of the defendants in the claim sought confirmation from the plan participant on the transactions. (Photo: Shutterstock)
The Labor Department is investigating the theft of $99,000 from a participant in Estee Lauder's 401(k) plan, according to the ERISA attorney representing her in a civil claim filed in U.S. District Court for the Northern District of California.
Teresa Renaker, founding partner of San Francisco-based Renaker, Hasselman, Scott, is representing Naomi Berman, a teacher in the Bay Area who worked for a unit of Estee Lauder between 1998 and 2006.
Labor officials have confirmed to Renaker that the investigation is ongoing, and that Berman was in no way "in cahoots" with the thief or thieves, she said.
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Nick Thornton
Nick Thornton is a financial writer covering retirement and health care issues for BenefitsPRO and ALM Media. He greatly enjoys learning from the vast minds in the legal, academic, advisory and money management communities when covering the retirement space. He's also written on international marketing trends, financial institution risk management, defense and energy issues, the restaurant industry in New York City, surfing, cigars, rum, travel, and fishing. When not writing, he's pushing into some land or water.
