I stared my first-ever 401K this past January 1999, (our company just started the 401K the previous January 1998 - I wasn't allowed to join for a year - another story). My experience and knowledge is limited. Since I am payed once a month (the first Friday of the month-for the previous month), I was not happy to see the contributions being made so many days into the next month (once it was 22 days). I discovered that this is not acceptable IRS policy. I complained to the Trustee, (he being new to this) checked it out and indeed they had to adjust. Trustee blamed Dean Witter-the middle man, Dean Witter blamed Alliance Capital. Bla, Bla Bla. But it was supposedly fixed. Secondly, I went (and continue) to hound the Trustee for an indexed fund. Thirdly, of the three statements (one left off a month and they had to resend the corrected one), plus the exchange redemption/purchase I did, only one exchange confirmation (they sent two, each with a different figure) from these statements is correct (and they used the wrong one-less money- to calculate my buy and sell!). Every statement is incorrect. In fact, from last statement to this, I lost shares. (Since I put the Trustee on alert of errors, he has expected me to be the 401K police but he is now too and actually found this error. I can only imagine what they did last year before I got in!)I can't believe these erroronious bookeeping practices are acceptable? Is this normal? What should I do?
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