illyrianmoon
Junior Member
The question I have is about my husband's retirement account. He recently left the employment of a small company after 6 1/2 years. Upon leaving, he discovered that the money that the company was withholding for his retirement account (pre-tax, supposedly matched) was never put into a mutual fund (as it was supposed to be), but is instead sitting in a slush fund in the company's name. Why the owner of the company chose to do this, we have no idea. However, since my husband is no longer working for the company, they are not able to fix the problem and open an account for him retroactively. Supposedly, they will give him a check for the money they owe him, but we don't know what kind of tax or penalties he'll run into once the money is withdrawn. Besides which, the whole thing seems highly illegal, and he doesn't want to do something wrong and end up facing charges for it. We basically need advice on how to proceed with this money. To complicate matters, the owner of the company is a friend of ours, and we don't have it out for him. We just don't want to pay for his mistakes.