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eglscout77
Guest
What is the name of your state?What is the name of your state? Massachusetts
Back in January, I discovered that my employer was not depositing the money being withdrawn from my paycheck for 401k's in a timely manner (several months, to be precise). I contacted him and demanded that he reimburse me. He eventually did make the deposits, although I have no way of knowing how much interest was lost in the investments for the time he wasn't paying.
I was going to cancel my 401k contributions altogether, but he reassured me that it was in my best interest to leave the contributions and that he was going to stay on top of the payments.
Just recently, I discovered that he hasn't been paying since the pay period ending Feb 29th, 2004. Meanwhile, the paychecks continue to show that the contributions are being deducted from my pay. As of last Friday, I sent him notice to stop my 401k contributions immediately, and he has. He still has not deposited my contributions since february, however.
What can/should I do? If I leave the company as a result of this, do non-compete clauses apply, since he was essentially embezzling our funds?
Thanks in advance,
Jesse
Back in January, I discovered that my employer was not depositing the money being withdrawn from my paycheck for 401k's in a timely manner (several months, to be precise). I contacted him and demanded that he reimburse me. He eventually did make the deposits, although I have no way of knowing how much interest was lost in the investments for the time he wasn't paying.
I was going to cancel my 401k contributions altogether, but he reassured me that it was in my best interest to leave the contributions and that he was going to stay on top of the payments.
Just recently, I discovered that he hasn't been paying since the pay period ending Feb 29th, 2004. Meanwhile, the paychecks continue to show that the contributions are being deducted from my pay. As of last Friday, I sent him notice to stop my 401k contributions immediately, and he has. He still has not deposited my contributions since february, however.
What can/should I do? If I leave the company as a result of this, do non-compete clauses apply, since he was essentially embezzling our funds?
Thanks in advance,
Jesse