With all the electronic record keeping these days and the demand for personal information, identity theft is sweeping the nation. Identity theft is growing in employer contribution retirement plans like 401ks. Led by dishonest employees and identity thieves, the 401k asset theft is running out of control.

With a dramatic increase of incidences of retirement plans,  the Wall Street Journal tells us that in 1995 there were only 34 cases of theft that year. By 2004, that number grew to 1,269 cases. This form of theft happens a lot more than people would like to believe.

You may wonder why this increase is happening. More and more people are contributing to their retirement accounts and with increased technology use, the risk just goes up. Protect your nest egg by asking for account summaries of your 401k to be sure your money is going there and staying there. Consider rolling over your 401k to an IRA the day you retire and keep a watchful eye on your hard earned nest egg.