They say will give you a check for half and the other half will be put in 401K. Can they do this? Or should they give you all your profit share?
2007-03-17 13:52:15 · 5 answers · asked by Muzic J 1 in Politics & Government ➔ Law & Ethics
Of course it's legal. They don't even have to give you anything...or they can pupt it all in the retirement plan. Totally up to the company. Only thing is that the amount that they put into the retirement plan can't be discriminatory in favor of highly compensated employees. After that, it's all fair game. Be thankful they put anything in your plan....and you should elect to put all of yours in there...you're going to need the money when you retire.
2007-03-19 14:22:50 · answer #1 · answered by digdowndeepnseattle 6 · 1⤊ 0⤋
think of it this way. By putting one half of it in a 401K plan, it becomes a nest egg for you in the future. Think about it before making your decision. It is a pretty good deal. bettyk
2007-03-25 07:43:59 · answer #2 · answered by elisayn 5 · 1⤊ 0⤋
I don't believe it is legal for an employer to take out 401k with out your knowledge. If you neve knew about the 401k, there is no way knowing that you even have/had one.
2007-03-25 12:27:55 · answer #3 · answered by Anonymous · 0⤊ 0⤋
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2016-12-02 03:57:32 · answer #4 · answered by ? 4 · 0⤊ 0⤋
i don't think it is
2007-03-25 11:44:52 · answer #5 · answered by Anonymous · 0⤊ 0⤋