I have been in my Company's 401k plan contributing 15% of my pay. The plan is with Fidelty investments.
I received my pay check on June 30th but am not seeing any contribution to my 401k till today. Fidelty says it's Comapny's fault and Company says it's Fidelty's fault. I am at loss being the victim. what should be my next action?
2006-07-09 09:07:17 · 4 answers · asked by Anonymous in Business & Finance ➔ Investing
Does this happen every month? If so, try talking to someone in HR to see if they can figure out why. If it's a one time occurence, it's not worth worrying about.
2006-07-09 09:36:31 · answer #1 · answered by Yardbird 5 · 0⤊ 0⤋
There are legal limits to how long a company has to make 401k contributions... however I am thinking they are like 2 weeks or something like that and I don't know the specificson the law...
2006-07-09 19:01:14 · answer #2 · answered by Christopher Swing 2 · 0⤊ 0⤋
My own 401k and that of my wife make pay check deductions each pay period (2 weeks), but only sends contributions to 401k once per month.
Apparently this is a common practice.
2006-07-09 17:35:23 · answer #3 · answered by Rik 3 · 0⤊ 0⤋
First, has the contribution been made to your account? That is the most important part to consider. If so, I wouldn't worry about it. There is not much that you can do. The market had a bad week, anyway.
2006-07-09 18:14:41 · answer #4 · answered by ps2754 5 · 0⤊ 0⤋