Investment

» tiff2u - Time Limits

Can any one tell me what time fram an employer has to contribute to a 401k plan.
Withdrawls have been taken out of employee checks since Jan 1 and no deposits have been made, nor has any matching funds been deposited either.

-- posted by tiff2u

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» allancoleman - Time Limits

In response to Time Limits posted by tiff2u:

I think you'll find , tiff2u , there aren't any good regulations regarding 401(k) plan requirements for employers like there are for IRAs for individual investors to protect their rights . I have read about 401(k) plans that get away with stuff that no custodian would ever dream of in a IRA . The IRS gives employers a very wide freedom of action much more so than IRAs .

Suggest that you vist this message board that answers nothing but 401(k) questions :

http://benefitslink.com/boards/index.php...

But to better answer your question , tiff2u , yes , I have heard of 401(k) plans that took money out of an employee's paycheck for an entire year and never deposited the money to the plan and also did not respond to requests from the employee for months regarding the details of their plan or sent that employee and regular data on that plan . Fortunately in my own 401(k) plan I have access to my plan data on a daily basis and when I was working had my paycheck deposited regularily . But , yes , I have heard horror stories such as yours .

-- posted by allancoleman

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