401(k) annoyance
Posted: Tue Sep 23, 2008 9:47 am
No, not because of the stock market. I'm actually doing better than the S&P, so I'm happy with returns thus far.
It's our payroll company. They can't seem to understand that I'm over 50, and can take an extra $5000 deduction over the year. I've been here three years. All three years, I have set up the account to take out an equal amount each paycheck to total whatever my allowed maximum is. All three years, the payroll company has stopped taking out money at the standard maximum, and ignored my instructions to take the extra $5K. I've had to tell our HR person to get it corrected.
This year, they've added insult to injury. Their rep happened to be in when my last paycheck arrived, which was the one where they stopped deducting for the 401(k). There was only a partial deduction which got me to the $15500 standard maximum. I told our HR person, who told their rep. We were assured that it would be taken care of. Just got the next paycheck, with NOTHING taken out for the 401(k) and a mysterious $23.00 put back! Yep, that took care of it, all right.
There's nothing like a paycheck snafu to screw up your budget. Grrr.
It's our payroll company. They can't seem to understand that I'm over 50, and can take an extra $5000 deduction over the year. I've been here three years. All three years, I have set up the account to take out an equal amount each paycheck to total whatever my allowed maximum is. All three years, the payroll company has stopped taking out money at the standard maximum, and ignored my instructions to take the extra $5K. I've had to tell our HR person to get it corrected.
This year, they've added insult to injury. Their rep happened to be in when my last paycheck arrived, which was the one where they stopped deducting for the 401(k). There was only a partial deduction which got me to the $15500 standard maximum. I told our HR person, who told their rep. We were assured that it would be taken care of. Just got the next paycheck, with NOTHING taken out for the 401(k) and a mysterious $23.00 put back! Yep, that took care of it, all right.
There's nothing like a paycheck snafu to screw up your budget. Grrr.
