Money Missing from 401K

[Merger Maddness]

What is the name of your state?NY, I noticed about 3 weeks ago that I am missing about $1,500 from my 401K. I Checked my pay stubs the money was coming out each week (about $5,500 YTD), I called my employer they said the money was being sent too them (the 401K company) each week as it was deducted from my paycheck. Looked on the 401K website, it shows 1 Contribution for the month of Feb for $240, 5 for the month of Mar for $2246.06, 1 for April for $775.54, & 1 for May for 526.24. When I asked the 401K company what happened, they said as soon as my employer sends them the money they post it. When I look at my pay stub the money is comes out every week. I have yet to get a responce from my HR who has yet to reply to emails asking for whom my Plan Administrator is or who am to contact in ref to this. Am I being paranoid or is something does not seam right here. If i dont get a stright answer what are my options, How long should it take from the time they take my contributions till they post in my 401K, and should this be posted on a weekly basis?? Who is responcible for my on both side or who should know.

 

[cbg]

And your question is?

 

[Merger Maddness]

. If i dont get a stright answer what are my options, How long should it take from the time they take my contributions till they post in my 401K, and should this be posted on a weekly basis?? Who is responcible for transfer of fund on both side or who should know.

 

[Beth3]

Before you conclude some sort of malfeasance is taking place, I think there are several things you need to consider first: (a) that there is very likely up to a two-week lag time between the time the money is deducted and when it shows up on any account statement, even an on-line statement, and (b) not all the time lines are necessarily going to jive. A "payroll month" and the "401k month" may actually be slightly different segments of time, depending on how frequently you are paid.

Calm down - it's highly likely all is well. Retirement plans are HIGHLY regulated by the federal government and misdirecting 401(k) funds or someone at either end embezzling anyone's money is the sort of thing for which people end up in federal prison.

I know you think the answer to your question is simple and you don't know why HR hasn't gotten back to you but sorting out why your statement appears to be off is far more complicated than you would know. Give HR a few more days, then give them a call and nicely ask when they think they might have an answer for you, if only the name of the person with the Plan Trustee (the investment firm) who can explain how this all works.