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Started By
Message
So Louisiana
Posted on 2/28/19 at 12:00 pm
Posted on 2/28/19 at 12:00 pm
Former client called me today and informed me that her company had stopped paying on her 401K, was deducting for her contribution but not applying to her account, was holding for her supplemental insurance and not paying the insurance company.
First thing in my head is hat this is an ERISA violation. She confronted her employer about this and he basically told her that if she liked her job , she needed to calm down about all of this and that their lawyer told them his was all OK that so long as they pay the full amount prior to the anniversary of the open enrollment period that they were on solid ground. The employees called the AG office and apparently the AG said that there was nothing they could do.
Wanna know why people leave Louisiana and businesses don't want to come here?????
First thing in my head is hat this is an ERISA violation. She confronted her employer about this and he basically told her that if she liked her job , she needed to calm down about all of this and that their lawyer told them his was all OK that so long as they pay the full amount prior to the anniversary of the open enrollment period that they were on solid ground. The employees called the AG office and apparently the AG said that there was nothing they could do.
Wanna know why people leave Louisiana and businesses don't want to come here?????
20
Posted on 2/28/19 at 12:01 pm to KiwiHead
quote:
Wanna know why people leave Louisiana and businesses don't want to come here?????
Yeah. Why?
Posted on 2/28/19 at 12:01 pm to KiwiHead
quote:
Wanna know why people leave Louisiana and businesses don't want to come here?????
Because its shite.
Posted on 2/28/19 at 12:02 pm to KiwiHead
quote:
Wanna know why people leave Louisiana and businesses don't want to come here?????
LA, by no means, has the market cornered on that type of malarkey, baw
Posted on 2/28/19 at 12:02 pm to Slagathor
quote:
Yeah. Why?
The smell?
Posted on 2/28/19 at 12:03 pm to KiwiHead
quote:
Wanna know why people leave Louisiana
el gaucho got the job as a blackjack dealer
Posted on 2/28/19 at 12:03 pm to KiwiHead
Yeah that’s definitely unique to Louisiana
Posted on 2/28/19 at 12:04 pm to 777Tiger
quote:
LA, by no means, has the market cornered on that type of malarkey, baw
This. The reason LA can't afford to engage in this sort of malarky is that Texas is right next door, which is already a far larger market, and they largely engage in far fewer anti-business shenanigans than does Louisiana.
If Louisiana were a midwestern state, our shenanigans wouldn't really hurt as nearly as much because the neighboring states wouldn't be that different, but in Louisiana, every mistake does nothing but subsidize Houston's economy.
Posted on 2/28/19 at 12:07 pm to KiwiHead
I'm not saying businesses are flocking to come to Louisiana, but this one anecdote of a single company isn't exactly representative of the whole state.
Posted on 2/28/19 at 12:19 pm to KiwiHead
And my company still pays 100% of my health insurance, has a stout 401k match, throws multiple parties a year and will contribute my bonus to my 401k above and beyond the employee contribution limit in lieu of cash if I ask.
My anecdote negates yours.
My anecdote negates yours.
Posted on 2/28/19 at 12:20 pm to TigerstuckinMS
quote:
And my company still pays 100% of my health insurance, has a stout 401k match, throws multiple parties a year and will contribute my bonus to my 401k above and beyond the employee contribution limit in lieu of cash if I ask.
you baws hiring?
Posted on 2/28/19 at 12:23 pm to 777Tiger
quote:
LA, by no means, has the market cornered on that type of malarkey, baw
Without a doubt, I wonder though, how prevalent this really is especially on the small to medium business end. I know my company is large enough that if we were to do something like this, we'd have our balls in a sling relatively fast after we did this.....but then again , we are making money. This guy is apparently not making money...... or his controller is stealing
Posted on 2/28/19 at 12:28 pm to KiwiHead
I had something like that happen when I started my first job out of college at a very small company. I was all excited to be doing the 401-K thing so I went to check the balance a few months in and they said there had been no funds sent in from our company in the last four months.
I asked the accounting manager about it and he said they had just forgotten and would take care of it.
I asked the accounting manager about it and he said they had just forgotten and would take care of it.
Posted on 2/28/19 at 12:30 pm to KiwiHead
quote:
I wonder though, how prevalent this really is especially on the small to medium business end.
have know way of knowing but I'm sure a lot of owners/CEOs/comptrollers will take whatever leeway they think they have to skimp, I work for a pretty big outfit, and our corporate climate/ideology has changed over time, but some of our employees were among the first victims on 9/11, our company initially was withholding death benefits, hell, all benefits, from the families of the victims, at a time they were desperately needed, telling them that they needed death certificates as proof, the only way they budged was when employee groups representing those families went to CNN
Posted on 2/28/19 at 12:30 pm to fr33manator
quote:
The smell?
Yeah, I would go with the smell
Posted on 2/28/19 at 12:34 pm to KiwiHead
quote:
Wanna know why people leave Louisiana and businesses don't want to come here?????
So this one instance is indicative of all businesses and companies in Louisiana?
Posted on 2/28/19 at 12:36 pm to KiwiHead
The company I work for in MS sends in their 401k once a yr. Each pay period, our electronic stub shows our 401k deposit and their match. Our deposit gets put in within 30 days but the match goes in at the end of the yr.
Posted on 2/28/19 at 12:37 pm to GCTigahs
quote:
The company I work for in MS sends in their 401k once a yr. Each pay period, our electronic stub shows our 401k deposit and their match. Our deposit gets put in within 30 days but the match goes in at the end of the yr.
kind of defeats dollar cost averaging doesn't it?
Posted on 2/28/19 at 12:38 pm to TigerstuckinMS
quote:Damn, all we had was an awards banquet
throws multiple parties a year
Posted on 2/28/19 at 12:39 pm to KiwiHead
quote:
Wanna know why people leave Louisiana and businesses don't want to come here?????
Because of the limited markets that are here?
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