IL: Officials investigate breach of retirement accounts

John Kass and William Lee report:

Officials with insurance and financial services giant Nationwide are working with city and federal officials to learn how the retirement accounts of 91 municipal employees were breached earlier this month.

Workers with Nationwide Retirement Solutions noticed “suspicious activity”  with some 457 deferred compensation accounts for municipal employees similar to 401k accounts on June 1, a company spokesman said. These accounts are administered by Nationwide on behalf of the city, according to the city comptroller’s office.

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