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Asked 7/29/2010
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My company recently began 401K and are not putting in what is out of my check My 401K is taken out of my check weekly but my company deposits it monthly and not the full amount per my pay stubs, is this legal? I want my money working for me that is why I contribute. They put the match in quarterly, which is part of my pay they just call it a match they had to do this for prevailing wage government jobs we are doing, but I still have a percentage I have taken out weekly that is being deposited monthly. |
Answer 1/2 - Submitted 7/29/2010
Answer 2/2 - Submitted 7/29/2010
With the employer 401K they seem to be depositing your funds on a monthly basis. As you stated "My 401K is taken out of my check weekly but my company deposits it monthly and not the full amount per my pay stubs" It appears they obviously collect it when you get paid and apply it monthly. As for it not matching your pay stubs, check again, and then you should perhaps talk with your payroll accountant.
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