Skip to main content
No. of Recommendations: 1
There's a lot of interest in this message board and I will admit I didn't look at every message to see if this has come up: (please bear with me..)
My wife's last paycheck indicated that the planned annual savings amount had been deducted from her pay. The statement for the year that the investment company sent indicates less. Uh-oh.
My initial inquiry with the investment company gave me a list of the dates and amounts invested, which agrees with the statements received. The person at the investment co. called the employer for me but the individual there never called her back.
My wife calls her employer (yeah, we "shoulda done this" first, maybe) and the person there says she needs to check with their "common remitter" (?????)
Here is what seems to be happening: The employer seems to be sending one big check to a brokerage company which then sends out checks to at least two other investment "options" (VALIC and Equitable). It also looks like some controls are not in place and somebody is lying to us.
If I could condense one comprehensive question it would be something like: What are the regulations here as far as handling this money is concerned and who do I come down on real hard and with what regulatory agency?

Any input is appreciated--

Fool on,
Ken
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!
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.
Contact Us
Contact Customer Service and other Fool departments here.
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
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.