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401(k) Benefits Due

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brandee58

Guest
What is the name of your state? NY
What are the employers obligations?

I was terminated from a position in mid September 2004. For the six weeks prior to the dismissal my employer deducted a voluntary contribution to a 401(k) retirement.

His obligations were to match my contribution,

Three months later my contribution and his matching amount have not been posted to the account.

The fund manager suggested calling the former employer, which I do not care to do.

What are the employers obligations, which I guess is to post the money, and what are my options to get the matter resolved.
 


Beth3

Senior Member
If I recall correct, recent tax laws require that the employer forward employee contributions and any match they make to the investment advisor within two weeks. What is an unknown however is whether your employer has failed to do this or whether there's just an administrative error at your employer's end or the investment firm's end.

A call to your former employer is certainly the best way to try and straighten this out. If you don't want to talk to them, you can send a letter.

Failing that, you can contact the federal Department of Labor and file a complaint but that's going to take much longer than the employer straightening this out themselves, assuming that they will do so when notified of the problem.
 

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