Message Font: Serif | Sans-Serif
UnThreaded | Threaded | Whole Thread (3) | Ignore Thread Prev | Next
Author: TheBadger Big red star, 1000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 25710  
Subject: Re: 401k Employer Problems Date: 3/8/1999 9:22 PM
Post New | Post Reply | Reply Later | Create Poll Report this Post | Recommend it!
Recommendations: 0
Generally speaking, an employer must remit "401(k) employee deposits" on the same basis that the employer remits Federal tax, Fica, Medicare & State Tax withholdings to the respective agencies. It could well be that your employer, although large in your eyes, does have 15 days to remit. If this is the case, it cousld take another 3 to 5 days for the remittance from the employer to the Trust (which safeguards your money) to actually be reflected in account balances that may be visible to you.

All that being said, your deduction from your 1/15/99 paycheck should have been reflected in your account (as additional mutual funds shares purchased or whatever) no later than 2/5/99.

If, as you say, as of 3/9/99, your 1/15/99 deductions have not been deposited, IMHO you next message/call to the controller should say that if you don't receive a reasonable response within 24/48/72 hours; your next call will be to the IRS.

Post New | Post Reply | Reply Later | Create Poll Report this Post | Recommend it!
Print the post  
UnThreaded | Threaded | Whole Thread (3) | Ignore Thread Prev | Next


Foolanthropy 2015!
Fistula Foundation: A World of Good!
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.
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
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.