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401k question
Posted on 7/18/13 at 5:30 pm
Posted on 7/18/13 at 5:30 pm
How long should it take my employer to deposit his matching contributions to my 401k?
I assumed it would be with my weekly deposits. Should it be quarterly, annually? Seems like I am missing out on some money by him not depositing more promptly.
I assumed it would be with my weekly deposits. Should it be quarterly, annually? Seems like I am missing out on some money by him not depositing more promptly.
5
Posted on 7/18/13 at 5:30 pm to DzNtz
every pay period
Posted on 7/18/13 at 5:49 pm to DzNtz
Should be within a couple days of each pay period but I know some smaller companies that do it quarterly.
Posted on 7/18/13 at 7:50 pm to DzNtz
If its a discretionary match, they can wait until year end.
Otherwise the 15th day rule applies which means by the 15 th of the following month at the latest. Most do it within a few days but Issues arise if they miss the 15th day rule.
Verify elsewhere, but that's my understanding.
Edit: here ya go; I was bored. LINK
Otherwise the 15th day rule applies which means by the 15 th of the following month at the latest. Most do it within a few days but Issues arise if they miss the 15th day rule.
Verify elsewhere, but that's my understanding.
Edit: here ya go; I was bored. LINK
This post was edited on 7/18/13 at 7:54 pm
Posted on 7/18/13 at 8:03 pm to DzNtz
The company I work for does it annually.
Posted on 7/18/13 at 8:14 pm to West Monroe
I see. Thanks.
Posted on 7/18/13 at 8:29 pm to DzNtz
whenever they feel like it
Posted on 7/19/13 at 9:33 am to HurricaneDunc
Annually up to their tax filing deadline in the next year including extensions. So the latest is middle of September for the previous year.
Posted on 7/19/13 at 1:24 pm to Maderan
Damn. I was hoping that it would be simultaneous with my contributions. I checked the plan handbook and it doesn't say much. Oh well, thanks for the info.
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