Toggle navigation
Toggle navigation
Home
DCUM Forums
Nanny Forums
Events
About DCUM
Advertising
Search
Recent Topics
Hottest Topics
FAQs and Guidelines
Privacy Policy
Your current identity is: Anonymous
Login
Preview
Subject:
Forum Index
»
Money and Finances
Reply to "Where are my 401K Contributions?"
Subject:
Emoticons
More smilies
Text Color:
Default
Dark Red
Red
Orange
Brown
Yellow
Green
Olive
Cyan
Blue
Dark Blue
Violet
White
Black
Font:
Very Small
Small
Normal
Big
Giant
Close Marks
[quote=Anonymous][quote=Anonymous]I rarely log into my 401K account, but did so today. On January 1, my employer switched to a new HR payroll provider. The last contribution into my 401K was dated 12/30/18. This means two January contributions and one from February are missing.[b] Is this legal? How long does an employer have to move money into the account[/b]?[/quote] 1. What they are doing is most likely not legal. 2. How long to deposit depends. The rules around 401k deposits say as soon as the company can separate the contributors from general assets. The “as soon as” date can be established by historical trends. However, if the plan is under 100 employees there is a safe harbor provision allowing up to 7 days post-payday to contribute. https://www.archerlaw.com/timing-of-401k-deposits/ Are you sure that when the company changed payroll providers, they didn’t also change 401k providers? Some small firms use the vendors associated with their payroll service, such as ADP.[/quote]
Options
Disable HTML in this message
Disable BB Code in this message
Disable smilies in this message
Review message
Search
Recent Topics
Hottest Topics
