Welcome! | Ask A Question

 
 
 
 
Question

Asked 9/20/2008

My company takes a mandatory 401k withdrawl from my check is this legal

Whenever we work on a prevailing wage job a mandatory deduction from my check is taken and put in a 401k account.Can they do this without my permission,we get no choice in this or which company it goes to.Also we haven't had a statement for over a year so i'm not sure if my money is okay or not.I would like to know if there's a watchdog group for 401ks.Is this legal and is there anything besides quiting my job that i can do.

 
 
 
 
 
Answers

Answer 1/1 - Submitted 9/21/2008

401k contributions are voluntary. You should take it up with HR and if they do not help you, talk to your state employment office.

 
 
 
 
Answer This Question Now

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

Learn more about how this works

 
 
 

Related Questions (Ask a New Question)

 
Mandatory 401k ?

Is it mandatory for an employer to setup a profit sharing 401k plan even when the employee does not wish to participate in the plan?

See Answers

 
401k early withdrawl

I lost my job and took an early withdrawl on my 401k. i know that it is taxed by the federal goverment along with a 10% charge unless used for medical reasons, but does the state of mi count that as taxable income? turbotax.com subtracted it, my tax professional service said it was gross income....

See Answers

 
401k early withdrawl

I am in need of some cash. i cannot do a hardship withdrawl as i do not meet the requirments. i already have a small loan out on it (that i have enough in the account to cover) so i cannot take a loan. my company is telling me that due to fedral laws, i cannot close my 401k account and take out all...

See Answers

 
Related Questions

Mandatory 401k ?


Is it mandatory for an employer to setup a profit sharing 401k plan even when the employee...

 

401k early withdrawl


I lost my job and took an early withdrawl on my 401k. i know that it is taxed by the federal...

 

401k early withdrawl


I am in need of some cash. i cannot do a hardship withdrawl as i do not meet the requirments....

 

Rules for using 401k withdrawl for downpayment on home


Is there special tax exempeions if using the withdrawl for down payment on house?

 

401k withdrawl


In 2007 i was laid off from my job. at the time i was laid off, i had an outstanding loan...

 

Can i withdrawl my 401k and still be employed by my employer?


I want to withdrawl my 401k because it bit worth having it, i have to much taken out of my...

 
 

See more 401k questions

 
 
 
 
 

Ask A Question

Ask a new question about
401k: