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Asked 4/21/2010

Post Discretionary question.

I had a 401k through my employer a few years ago, they matched up to 3%. i took advantage of that and put in what i needed to get the matching money. anways, i quit and took it all out and everything was find and dandy. well 2 years later i went back to work for them and signed up for the 401k again. when i looked at my 1st statement there was over 3000 in it. the weird thing was i only put in maybe 100 bucks so far. i called the investement firm and they said it was my money and nothing was wrong. well now, im seeing contributions into my account with this as the source "Post 06 ER Discretionary". i have no idea what this is and want to find out. also want to know if there is something glitch still putting money in my account for no reason. thanks.

 
 
 
 
 
Answers

Answer 1/3 - Submitted 4/22/2010

Discretionary contributions are from your employer, your match or perhaps a profit share.

Were you fully vested when you left the company last time?

 
 

Answer 2/3 - Submitted 4/22/2010

Yes i was fully vested.

 
 

Answer 3/3 - Submitted 4/22/2010

Profit sharing contributions are often posted in March or April of the year the contribution is attributed to. If you left and closed the account in an earlier month.. you probably were still eligible for the contribution. It would have went in after you left.. and remained there. You should have received statements however. Another possibility is that this was just done... ask the adminstrator for the exact date of that contribution.. they can find out what year it was for, and when it was deposited.

 
 
 
 
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