Originally Posted on June 11, 2016
The Lodge has been made aware that Nationwide Retirement Solutions (NRS) recently alerted federal law enforcement and the city of Chicago of fraudulent activity on a small number of city employee’s deferred compensation accounts. Federal authorities continue to actively investigate all accounts administered by NRS on behalf of the City of Chicago.
We were informed that immediate action was taken by NRS to prevent further access of retirement accounts and that steps were taken to safeguard all accounts from fraudulent activity in the future. NRS returned all impacted accounts to their full balance. Additionally, NRS is providing two years of free credit monitoring service to any impacted participants
Finally, a breakdown of where the affected employees work and additional information will be forthcoming to their union representatives on Monday. As with all financial accounts, if any unusual activity is noticed concerning deferred compensation accounts, or if anyone has further questions/concerns, please contact a Nationwide representative.
Any Lodge Member interested in further protecting their financial security can register for additional Identity Theft Protection through the FOP Benefits Plan. The Plan, and steps to register, are located on the Lodge main webpage, under 'Benefits'.