QVC Mum on 401(k) Hardship Withdrawal Probe

QVC officials have reportedly finished their investigation into whether 200 employees falsified documents to try to take hardship withdrawals from their 401(k)s.

But they are not saying whether they found any wrongdoing or if anyone has been fired.

QVC began the investigation on Aug. 5, telling some 200 employees at its Edgecombe County, N.C., fulfillment plant that they could not return to work until they set up an appointment with an administrator and that if they were found guilty of falsifying documents, they could be fired.

The workers allegedly made the hardship withdrawals to try and avoid penalties.

A spokeswoman for the home shopping network declined to comment, saying, “Out of continued respect for all of our employees, the specifics and results of the investigation and the individual meetings with employees will remain personal and confidential.”

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Compliance Mutual funds Money Management Executive
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