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401k contributions
Old 03-07-2017, 09:04 PM   #1
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401k contributions

My company makes the annual lump sum match after year end every year. The past two years, it was done in January and February. Each time it was made, a notice was sent out a couple days before saying that the matching contributions were going to be made.

This year, as we approach mid-March, there hasn't been any word of the contribution being made. Of course, I haven't forgotten about it. I work for a small company so the protocol of things isn't probably as rigid as it is at large corporations. However we have a healthy balance sheet, so I know we are not in a cash crunch. I am wondering what to do.... wait another month, and maybe mention it lightly to a trusted co-worker? I don't want to come off as the guy with his hand out all the time but.....
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Old 03-07-2017, 09:21 PM   #2
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I would wait another month. There could be a number of reasons that it hasn't been done. Maybe all of the parties needed to make the transaction have not been available. Maybe there are banking or plan sponsor reasons. Etc,etc.
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Old 03-07-2017, 10:31 PM   #3
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I'm not sure what the time limits are on 401K contributions, but tax returns for businesses are due March 15th. So waiting a little longer might solve your problem. However, it doesn't seem too crass to ask a boss if there's any word on the 401K distribution this year. Asking more than once . . . probably not good.
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Old 03-08-2017, 07:02 AM   #4
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Ask! It's a legitimate question, as it's part of your compensation. Whenever I have changed jobs (2 times in the last 28 years) I have always been told to look at TOTAL COMP, not just monthly salary when both negotiating and making a decision.

Now, all companies have the ability to change contributions, bonuses, hell even your pay if they want.... just as you have the opportunity to explore and do another TOTAL COMP spreadsheet analysis.
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Old 03-08-2017, 07:15 AM   #5
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Split the difference and ask in two weeks.
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Old 03-08-2017, 07:33 AM   #6
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Originally Posted by Jerry1 View Post
I'm not sure what the time limits are on 401K contributions, but tax returns for businesses are due March 15th. So waiting a little longer might solve your problem. However, it doesn't seem too crass to ask a boss if there's any word on the 401K distribution this year. Asking more than once . . . probably not good.
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Old 03-08-2017, 08:48 AM   #7
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could be as late as 9/15 if a calendar year corp filer extends?
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Old 03-08-2017, 09:39 AM   #8
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could be as late as 9/15 if a calendar year corp filer extends?
That's been our experience with DW's lump sum. Entitled to it if employed on 12/31, but doesn't hit account until September of the next year. For 2016 tax year, she'll get it 2 months after retiring....
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Old 03-08-2017, 09:43 AM   #9
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I see no reason not to ask a trusted co-worker right away. Maybe someone that has been there for awhile......"Do you remember the match coming this late in the year in the past?"

I wouldn't hesitate to ask a manager or HR but maybe ask a friend first and look for anything in writing wrt the 401k.

Have you reviewed the Summary Plan Description?
Is there a custodian that is familiar with details of the plan?
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Old 03-08-2017, 10:01 AM   #10
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I think a big question for the OP, as well as many posters on here, is why people are so afraid to ask Management/Company any question(s)?
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Old 03-08-2017, 10:08 AM   #11
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I'd probably wait another few weeks since the timing seems to be pretty close. If nothing is said or done by then, maybe ask someone who's been around with the company longer than you. (Maybe they have come later in some years) As someone said earlier, it's been part of your compensation package so far so I'd ask, eventually.
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Old 03-08-2017, 10:11 AM   #12
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I think a big question for the OP, as well as many posters on hear, is why people are so afraid to ask Management/Company any question(s)?
^This
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Old 03-08-2017, 12:13 PM   #13
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I agree that this is part of your comp and should be communicated. As the Accounting/HR person, I would not be offended if an employee asked when the payment would occur.
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Old 03-08-2017, 10:04 PM   #14
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I think a big question for the OP, as well as many posters on here, is why people are so afraid to ask Management/Company any question(s)?
I doubt OP and the rest of us are "so afraid". I, personally, would be careful asking because of our business culture. I'm not arguing that it's a healthy, sane culture, but it is what it is. Squeaky wheels are among the first to get downsized. simple as that. you need to estimate the upside before taking a risk. That's rational, not fear.
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Old 03-08-2017, 11:33 PM   #15
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Don't know how small OP's company is, but when I was in a company of 50 employee's I'd often wander into the accountant's office to chat about the 401K, or other stuff.
You could even be a little subtle about it, and ask if you were missed in the emailing out of the matching this year or is it just coming out later ?
Maybe they forgot....
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Old 03-09-2017, 12:09 AM   #16
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What's wrong with asking? I wouldn't be so shy. Don't worry about been downsized, the economy is good, really good. I can't imagine. Somebody would fire you for asking. If that's the case, it's good time to go look for another job.
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Old 03-09-2017, 02:16 PM   #17
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What's wrong with asking? I wouldn't be so shy. Don't worry about been downsized, the economy is good, really good. I can't imagine. Somebody would fire you for asking. If that's the case, it's good time to go look for another job.
+100

Now, I am not saying bug the crap out of somebody/management about it. But a simple question should not create anxiety.
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Old 03-09-2017, 02:18 PM   #18
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My gut tells me they didn't "forget" nor did they just "hope no one would notice." My gut tells me there is a reason they aren't saying just yet and probably would not appreciate anyone (essentially) asking "Did you forget?" or "Did you hope no one would notice?"

While I agree with those who suggested you have a "right" to ask, I don't see that asking will change anything (favorably) for you. But I could be wrong, so YMMV.
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Old 03-09-2017, 02:28 PM   #19
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This reminds me of my question to the forum last year, when I asked how long it should take for the previous year's pay history to show up in the SS website. It was March (?) and the site was not showing my pay for 2015. I asked HR that month and kept asking once a month until summer. It was finally discovered that our deadbeat payroll company had incorrectly submitted all the numbers (for everyone in the company!) to SS. This was the last straw for HR (previous problems with this payroll company) and so now we have a new and very good payroll company. My 2016 pay was posted to SS about mid-January. So, sometimes it (literally) pays to ask the company questions!
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Old 03-09-2017, 02:54 PM   #20
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I think a big question for the OP, as well as many posters on here, is why people are so afraid to ask Management/Company any question(s)?
If you ask the right questions, you get preferential treatment like VIP desk in the back broom closet.


I always ask co workers or management about bonuses.
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