Employer pocketing SEP IRA monies

[jojo]

15% of my earnings is taken out of paycheck and put into a SEP IRA, once the maximum of $24,000 is reached, my employer no longer deposits the 15% but still takes it out of earnings. Can this be legal???? The 15% is NOT his contribution but taken out of what I make.
Any suggestions?
TIA
Jojo

 

[Marcia M]

ASK THE EMPLOYER -- and no, he shouldn't be doing that. It may be a payroll foul up -- they happen and you must ask to get it corrected.