What is an employer/sponser's obligation to offer & enroll employee into plan? | 401k Questions

Question

Asked 6/4/2008

What is an employer/sponser's obligation to offer & enroll employee into plan?

The company that I work for, acquired my prior employer 6 years ago. Therefore I have a total of 9 years of employment with the company. I recently found out that my current employer has had a 401K plan all of these years, and I was not notified or offered the opportunity to enroll in the plan until last month.

I feel that I have lost quite an opportunity for savings, and have had adverse tax consequences because I have not been in the plan.

What responsibility, if any, does my employer have to me? Are there IRS rules that would penalize my employer for not making the plan available to me?

Share | Abuse

Post Response

Answer This Question Now

Type your Answer in the box below and post your answer.

Learn more about how this works

401K Related Topics

Related Questions (Ask a New Question)

Stopping 401k plan by employer

Employer will be stopping 401k plan the end of this month. only received notification of this 2 weeks ago. have not received statments for 12 months because employer asked financial company to not send them. employer found out 12 months ago that he was required by law to offer 401k plans to part-time...

See Answers

401k prevailing wage

My employer made all employee enroll into this 401k saying it was manditory by law, now the employer lost the contract and is not contributing anything at all. this is a government contract, and the contractors plan say we can not withdrawl the money until after we no longer work for the company or...

See Answers

401k eligibility

My daughter has been an full time employee of her company in florida for over 8 years. she has contacted her hr office and tried to enroll in the company 401k plan. she was advised that she is part of a group that is excluded from the plan. the reason given was that she is an hourly employee. it...

See Answers

Related Questions

Stopping 401k plan by employer

Employer will be stopping 401k plan the end of this month. only received notification of...

See Answers

401k prevailing wage

My employer made all employee enroll into this 401k saying it was manditory by law, now the...

See Answers

401k eligibility

My daughter has been an full time employee of her company in florida for over 8 years. she...

See Answers

Discontinuing employer match of employee 401k contribution.

We are a small company who offer the safe harbor 401k benefit. one of the expenses we will...

See Answers

How long can an employer legally take to make the employer's matching contribution to a 401k plan for the previous year?

I would like to know how long an employer can legally take to make the employer's matching...

See Answers

How can i force my ex-employer to give me my 401k money?

My ex-employer will not release the employee stock ownership portion of my 401k plan. they...

See Answers

See more 401k questions

Advertise on this Site