Poof! You're a Pauper!

The link to the article shown in the image is below. It's a sad tale of a computer SNAFU that isn't fully explained but was eventually corrected. However, in between the point where the accounts disappeared and when they were resurrected, there was a lot of anxiety, to say the least.

Some UC employees and retirees have their tax-favored savings accounts at Fidelity. And Fidelity provides other services for UC related to retirement accounts. But the glitch seems like something that could occur in any large computer system.

The moral of the tale would seem to be that it would be a good idea to keep some kind of external record of your accounts so that when someone tells you that they can't find any trace of your accounts in the system, you have a screenshot or a paper copy to prove otherwise. In this case, the victim of the SNAFU was told that because there was no record that she ever had existed, there was nothing to be done.

You can find the story at:

https://www.nytimes.com/2026/04/25/your-money/fidelity-investments-fraud-alert.html.

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