Thanks, guys, for the informative and thoughtful replies. I'll keep
watching my 401K website for the appearance of my money. With luck,
I'll avoid a call to my payroll dept. Thanks again.

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"rick++" <rick303[at]hotmail.com> writes:

- quote -

I used to work at a company that did that, too, except that it was
called "profit sharing", put into a separate account from 401K money
in which the investments were chosen by the company rather than the
individual employees, and the employer contributions did not fully
vest for something like 5 years.

But, the OP in this thread was not talking about employer matching
contributions -- he was talking about delays in his *own* money being
credited to his 401K account after payday.

-Sandra the cynic

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My company has a really quirky policy for its contribution to the
401K:
lump sum April of the following year. And its deposited as
advertised.
A company is not required to make any contribution of its own at all.

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Noveau67[at]aol.com writes:

- quote -

Today's a legal holiday in the US so I wouldn't expect anything to
happen today. Next business day, or even a few days, to make the
transfer is nothing unusual, though.

Recently my employer has been having problems with 401K money getting
stuck after we switched payroll services. When I asked our payroll
person about it, she said that the law requires the deposits to be
made within 2 weeks. It also seems like it's a multi-step process:
she has to run the payroll and poke Fidelity, Fidelity has to poke her
back, and she has to respond to authorize funding the accounts, before
anything will happen. On top of that, I noticed that Fidelity's web
site usually doesn't show the deposit until the business day after it
arrives. So, yeah -- somebody's making money on the float, and it isn't
me, but that's kind of the way it works.

-Sandra the cynic

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In article
<8bec222b-d231-4baa-9cf9-159ad3ae0f9f[at]i12g2000prf.googlegroups.com> ,
Noveau67[at]aol.com wrote:

- quote -

Yes, perfectly legal. In fact, employers used to abuse this by
grouping up deposits for an entire quarter. If a company got in
trouble, they might never make the deposit, or use it to pay
company bills. As a result, a law went into effect that regulates
how long a company has to deposit 401K funds. I don't remember
what that time period is, but something like 6 weeks comes to mind.

You are smart to keep track of this. No one will care as much
about your money as you do.

-john-

--
================================================== ====================
John A. Weeks III * * * * * 612-720-2854 * * * * * *john[at]johnweeks.com
Newave Communications * * * * * * * * * * * * http://www.johnweeks.com
================================================== ====================

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Noveau67[at]aol.com writes:

- quote -

Yes, it is. I believe they have until the 15th of the month after
the month deferrals were made in to make the deposit. In other
words, your January deductions have to be deposited by 15 February.

Usually it happens in a week or two, though.

--
Rich Carreiro rlc-news[at]rlcarr.com

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I just started a new 401K at work. The first 401k deduction came
out out of my paycheck Friday a few days ago. Checking my 401K
account online, I see the balance is still zero, on Monday. I called
up the 401K folks, and they said employers often "wait a few days"
before they get the money from the paycheck deduction over to the 401K
folks. Hmmmm.

Is it legal for this to happen ???

I haven't called my company yet, about it.

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