No. of Recommendations: 0
I have been tracking my 401k in quicken for 5 months now. I noticed that the current balance on my online account never matched my 401k balance in my quicken. There was always a significant 4 figure discrepancy. I went to my company's HR Rep and she basically said that 401k deposits are delayed by approx. 1 month. I checked my online account again and sure enough, my company is deducting 401k amounts biweekly but depositing them a month later. This screws up my account tracking to say the least but moreover half of my 401k deduction money is not being put to use for over a month! I am assuming they are generating interest income off of this money for 30 days and then depositing it in employee's 401k accounts. Is this legal?!!
Print the post  

Announcements

The Retirement Investing Board
This is the board for all discussions related to Investing for and during retirement. To keep the board relevant and Foolish to everyone, please avoid making any posts pertaining to political partisanship. Fool on and Retire on!
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Community Home
Speak Your Mind, Start Your Blog, Rate Your Stocks

Community Team Fools - who are those TMF's?
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.
Advertisement