QVC Workers Protest Investigation

Imagine walking into work and being handed a letter that says you must go on an unpaid leave for two days and you're under investigation. That's what happened to around 250 workers Wednesday in Rocky Mount.

Around 75 of those workers from QVC gathered to protest. The letter says the workers have 48 hours to provide documentation showing why they took money from their 401k account, known as a hardship withdrawal.

But what the workers don't understand is why QVC is getting involved when their 401k transactions are done with Fidelity, and they also don't understand why they have to provide documentation again after they say they already proved it was legit to Fidelity.

QVC's says, "QVC is investigating alleged irregularities regarding employee 401k hardship withdrawals at our Rocky Mount distribution center. Due to the current investigation, we cannot provide any additional information at this time."

Fidelity did not return our calls seeking comment.

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  • by Clarify on Aug 6, 2009 at 12:45 PM
    You can be sure that Fidelity's service contract does include verifying hardship reasons.
  • by Anonymous on Aug 6, 2009 at 12:24 PM
    Hey, some job openings in Rocky Mount!! COOL!
  • by Jeremy Location: New Bern on Aug 6, 2009 at 11:35 AM
    Why didn't they just take loans against their 401k accounts? IRS rules on hardship withdraws are pretty clear.
  • by Buzz Location: MillCreek on Aug 6, 2009 at 07:24 AM
    to Upset NC Native: yes this is "thier" money, after the reach 59 1/2 year of age. You can take money out of a 401 for hardships, but this was a scam. The IRS gastapo could come back on the company if they had tried to hide what was happening after they found out. The person doing the paperwork will most likely have some serious trouble ahead. As for the employees that were having "hardships", they should have just stopped thier 401K contributions until things get better. Buzz-
  • by Upset NC Native on Aug 6, 2009 at 06:31 AM
    I say L.I.G. it people!! Let it Go!! Times are hard and these people needed THEIR money so they did what they had to do to get it. Even if some of the money was matched by QVC, so what it is still the employees money. If they leave the company QVC doesnt take their part of the money back b/c it is no longer theirs. These people have probably worked for QVC since they opened the plant, so they deserve their money. They should not lose their jobs over this. Maybe the HR person making the money on the side should face some penalties. Leave these people alone. Im sure they are not the first to get a hardship under false pretense and im sure they wont be the last. This is why so many people making small incomes are so afraid to save money b/c they have to go through things like this just to be able to get THEIR money.
  • by ME Location: NC on Aug 6, 2009 at 05:59 AM
    Anyone know what they pay?? Looks like there are going to be some job openings in the area.
  • by It wasn't all of their money Location: Nashville NC on Aug 6, 2009 at 02:57 AM
    It was partially matched by QVC. Taking money out before 59 1/2 while still employed at the company providing the plan is against IRS rules. Its that simple. These folks got caught and are going to have to pay the price. Fidelity is not a policeman. They received a hardship requests on what appeared to be a valid letter. They are not going to waste manhours to investigate the claim's authenticity.
  • by MadMax on Aug 6, 2009 at 12:19 AM
    You're only hearing half the story, these people are not telling you that they got the money through a fraudulent act. Get it Right has it all correct, someone in the warehouse did the paperwork and charged $80 to do it. Someone got their money but didn't pay the $80 and when they were confronted the girl who was doing the papers got snitched on. Yes it's your money, but there is a right way to go about getting it, those standing down at the packhouse were wrong and they got caught, they should have to pay the consequences.
  • by bigtar Location: tarboro on Aug 5, 2009 at 11:17 PM
    Hey i hope they all get fired i just lost my job and don't live but a few miles from there, guess i'll apply tomorrow.
  • by Get it Right on Aug 5, 2009 at 08:36 PM
    No one in HR was processing any paperwork for anyone. Someone inside the warehouse did. These people knew they were comitting a fraud when they got this money. Yes it was their money and it was also QVC's matched contribution as well so they not only scamed themselves they also scamed QVC. Now Fidelity investments have to fess up to not checking and verifying information sent to them before cutting all these checks and after the first 50 or so request for the hardship money from the same place (QVC) should have been really checking.
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