Regular delay in payments - 401k, etc [closed]

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I hope this is a valid question. My company doesn't contribute anything to my 401K plan but allows all employees to contribute to one. However, almost always the payment into my 401k plan is delayed by a week or two (The plan is self managed - i.e. Fidelity Non-prototype account). I have been emailing HR every time the funds don't show up within a week of the pay check.



I recently learned that they do same/ similar stuff with payment to contractors.



what are my options to have this addressed (other than emailing HR, which I have done).



thanks







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closed as off-topic by Jim G., gnat, Lilienthal♦, Chris E, IDrinkandIKnowThings Jul 12 '16 at 19:50


This question appears to be off-topic. The users who voted to close gave this specific reason:


  • "Questions seeking advice on company-specific regulations, agreements, or policies should be directed to your manager or HR department. Questions that address only a specific company or position are of limited use to future visitors. Questions seeking legal advice should be directed to legal professionals. For more information, click here." – Jim G., gnat, Lilienthal, Chris E, IDrinkandIKnowThings
If this question can be reworded to fit the rules in the help center, please edit the question.












  • Are the funds being transferred as a result of your email? As in, HR just forgot to do it?
    – dyeje
    Jul 7 '16 at 20:06










  • I have had multiple occasions when the money shows up a day or two after I emailed asking about the status of the 401K deposit.
    – shikarishambu
    Jul 7 '16 at 22:44










  • That might be coincidence though. Have you asked HR to explain the delay?
    – dyeje
    Jul 8 '16 at 15:25
















up vote
-2
down vote

favorite












I hope this is a valid question. My company doesn't contribute anything to my 401K plan but allows all employees to contribute to one. However, almost always the payment into my 401k plan is delayed by a week or two (The plan is self managed - i.e. Fidelity Non-prototype account). I have been emailing HR every time the funds don't show up within a week of the pay check.



I recently learned that they do same/ similar stuff with payment to contractors.



what are my options to have this addressed (other than emailing HR, which I have done).



thanks







share|improve this question











closed as off-topic by Jim G., gnat, Lilienthal♦, Chris E, IDrinkandIKnowThings Jul 12 '16 at 19:50


This question appears to be off-topic. The users who voted to close gave this specific reason:


  • "Questions seeking advice on company-specific regulations, agreements, or policies should be directed to your manager or HR department. Questions that address only a specific company or position are of limited use to future visitors. Questions seeking legal advice should be directed to legal professionals. For more information, click here." – Jim G., gnat, Lilienthal, Chris E, IDrinkandIKnowThings
If this question can be reworded to fit the rules in the help center, please edit the question.












  • Are the funds being transferred as a result of your email? As in, HR just forgot to do it?
    – dyeje
    Jul 7 '16 at 20:06










  • I have had multiple occasions when the money shows up a day or two after I emailed asking about the status of the 401K deposit.
    – shikarishambu
    Jul 7 '16 at 22:44










  • That might be coincidence though. Have you asked HR to explain the delay?
    – dyeje
    Jul 8 '16 at 15:25












up vote
-2
down vote

favorite









up vote
-2
down vote

favorite











I hope this is a valid question. My company doesn't contribute anything to my 401K plan but allows all employees to contribute to one. However, almost always the payment into my 401k plan is delayed by a week or two (The plan is self managed - i.e. Fidelity Non-prototype account). I have been emailing HR every time the funds don't show up within a week of the pay check.



I recently learned that they do same/ similar stuff with payment to contractors.



what are my options to have this addressed (other than emailing HR, which I have done).



thanks







share|improve this question











I hope this is a valid question. My company doesn't contribute anything to my 401K plan but allows all employees to contribute to one. However, almost always the payment into my 401k plan is delayed by a week or two (The plan is self managed - i.e. Fidelity Non-prototype account). I have been emailing HR every time the funds don't show up within a week of the pay check.



I recently learned that they do same/ similar stuff with payment to contractors.



what are my options to have this addressed (other than emailing HR, which I have done).



thanks









share|improve this question










share|improve this question




share|improve this question









asked Jul 7 '16 at 17:21









shikarishambu

34137




34137




closed as off-topic by Jim G., gnat, Lilienthal♦, Chris E, IDrinkandIKnowThings Jul 12 '16 at 19:50


This question appears to be off-topic. The users who voted to close gave this specific reason:


  • "Questions seeking advice on company-specific regulations, agreements, or policies should be directed to your manager or HR department. Questions that address only a specific company or position are of limited use to future visitors. Questions seeking legal advice should be directed to legal professionals. For more information, click here." – Jim G., gnat, Lilienthal, Chris E, IDrinkandIKnowThings
If this question can be reworded to fit the rules in the help center, please edit the question.




closed as off-topic by Jim G., gnat, Lilienthal♦, Chris E, IDrinkandIKnowThings Jul 12 '16 at 19:50


This question appears to be off-topic. The users who voted to close gave this specific reason:


  • "Questions seeking advice on company-specific regulations, agreements, or policies should be directed to your manager or HR department. Questions that address only a specific company or position are of limited use to future visitors. Questions seeking legal advice should be directed to legal professionals. For more information, click here." – Jim G., gnat, Lilienthal, Chris E, IDrinkandIKnowThings
If this question can be reworded to fit the rules in the help center, please edit the question.











  • Are the funds being transferred as a result of your email? As in, HR just forgot to do it?
    – dyeje
    Jul 7 '16 at 20:06










  • I have had multiple occasions when the money shows up a day or two after I emailed asking about the status of the 401K deposit.
    – shikarishambu
    Jul 7 '16 at 22:44










  • That might be coincidence though. Have you asked HR to explain the delay?
    – dyeje
    Jul 8 '16 at 15:25
















  • Are the funds being transferred as a result of your email? As in, HR just forgot to do it?
    – dyeje
    Jul 7 '16 at 20:06










  • I have had multiple occasions when the money shows up a day or two after I emailed asking about the status of the 401K deposit.
    – shikarishambu
    Jul 7 '16 at 22:44










  • That might be coincidence though. Have you asked HR to explain the delay?
    – dyeje
    Jul 8 '16 at 15:25















Are the funds being transferred as a result of your email? As in, HR just forgot to do it?
– dyeje
Jul 7 '16 at 20:06




Are the funds being transferred as a result of your email? As in, HR just forgot to do it?
– dyeje
Jul 7 '16 at 20:06












I have had multiple occasions when the money shows up a day or two after I emailed asking about the status of the 401K deposit.
– shikarishambu
Jul 7 '16 at 22:44




I have had multiple occasions when the money shows up a day or two after I emailed asking about the status of the 401K deposit.
– shikarishambu
Jul 7 '16 at 22:44












That might be coincidence though. Have you asked HR to explain the delay?
– dyeje
Jul 8 '16 at 15:25




That might be coincidence though. Have you asked HR to explain the delay?
– dyeje
Jul 8 '16 at 15:25










1 Answer
1






active

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votes

















up vote
7
down vote













Usually, when the ACH transfer clears at your employers financial institution, to pay your salary, they make another ACH transfer to the retirement funds etc. Unfortunately, the cut off time for processing those transfers might be a day or two off. And Fidelity in your case, might not be doing daily ACH transfers but doing them weekly. Before saying or implying your employer doing this purposefully, ask Fidelity when they receive their funds, i.e. daily, weekly etc. And then you can ask your employer's bank to see when they process outgoing money transfers via ACH. It might tell you the overlap or lack thereof, causing these delays.






share|improve this answer

















  • 1




    +1Yes, a one week delay is not unreasonable. a one MONTH delay, and the company is skimming interest, but not one week.
    – Richard U
    Jul 7 '16 at 17:44










  • Didn't think that it could be a batch processing delay. Good call.
    – JasonJ
    Jul 7 '16 at 18:14










  • If the delay was consistent then I can put it down to processing delay. Yes, I have asked Fidelity on occasions and they said they never received the funds. Some times the money is there 2 days after the paycheck, sometimes 14 days after and often a day or two after I ask about the status of the 401K deposit.
    – shikarishambu
    Jul 7 '16 at 22:44

















1 Answer
1






active

oldest

votes








1 Answer
1






active

oldest

votes









active

oldest

votes






active

oldest

votes








up vote
7
down vote













Usually, when the ACH transfer clears at your employers financial institution, to pay your salary, they make another ACH transfer to the retirement funds etc. Unfortunately, the cut off time for processing those transfers might be a day or two off. And Fidelity in your case, might not be doing daily ACH transfers but doing them weekly. Before saying or implying your employer doing this purposefully, ask Fidelity when they receive their funds, i.e. daily, weekly etc. And then you can ask your employer's bank to see when they process outgoing money transfers via ACH. It might tell you the overlap or lack thereof, causing these delays.






share|improve this answer

















  • 1




    +1Yes, a one week delay is not unreasonable. a one MONTH delay, and the company is skimming interest, but not one week.
    – Richard U
    Jul 7 '16 at 17:44










  • Didn't think that it could be a batch processing delay. Good call.
    – JasonJ
    Jul 7 '16 at 18:14










  • If the delay was consistent then I can put it down to processing delay. Yes, I have asked Fidelity on occasions and they said they never received the funds. Some times the money is there 2 days after the paycheck, sometimes 14 days after and often a day or two after I ask about the status of the 401K deposit.
    – shikarishambu
    Jul 7 '16 at 22:44














up vote
7
down vote













Usually, when the ACH transfer clears at your employers financial institution, to pay your salary, they make another ACH transfer to the retirement funds etc. Unfortunately, the cut off time for processing those transfers might be a day or two off. And Fidelity in your case, might not be doing daily ACH transfers but doing them weekly. Before saying or implying your employer doing this purposefully, ask Fidelity when they receive their funds, i.e. daily, weekly etc. And then you can ask your employer's bank to see when they process outgoing money transfers via ACH. It might tell you the overlap or lack thereof, causing these delays.






share|improve this answer

















  • 1




    +1Yes, a one week delay is not unreasonable. a one MONTH delay, and the company is skimming interest, but not one week.
    – Richard U
    Jul 7 '16 at 17:44










  • Didn't think that it could be a batch processing delay. Good call.
    – JasonJ
    Jul 7 '16 at 18:14










  • If the delay was consistent then I can put it down to processing delay. Yes, I have asked Fidelity on occasions and they said they never received the funds. Some times the money is there 2 days after the paycheck, sometimes 14 days after and often a day or two after I ask about the status of the 401K deposit.
    – shikarishambu
    Jul 7 '16 at 22:44












up vote
7
down vote










up vote
7
down vote









Usually, when the ACH transfer clears at your employers financial institution, to pay your salary, they make another ACH transfer to the retirement funds etc. Unfortunately, the cut off time for processing those transfers might be a day or two off. And Fidelity in your case, might not be doing daily ACH transfers but doing them weekly. Before saying or implying your employer doing this purposefully, ask Fidelity when they receive their funds, i.e. daily, weekly etc. And then you can ask your employer's bank to see when they process outgoing money transfers via ACH. It might tell you the overlap or lack thereof, causing these delays.






share|improve this answer













Usually, when the ACH transfer clears at your employers financial institution, to pay your salary, they make another ACH transfer to the retirement funds etc. Unfortunately, the cut off time for processing those transfers might be a day or two off. And Fidelity in your case, might not be doing daily ACH transfers but doing them weekly. Before saying or implying your employer doing this purposefully, ask Fidelity when they receive their funds, i.e. daily, weekly etc. And then you can ask your employer's bank to see when they process outgoing money transfers via ACH. It might tell you the overlap or lack thereof, causing these delays.







share|improve this answer













share|improve this answer



share|improve this answer











answered Jul 7 '16 at 17:29









MelBurslan

7,00511123




7,00511123







  • 1




    +1Yes, a one week delay is not unreasonable. a one MONTH delay, and the company is skimming interest, but not one week.
    – Richard U
    Jul 7 '16 at 17:44










  • Didn't think that it could be a batch processing delay. Good call.
    – JasonJ
    Jul 7 '16 at 18:14










  • If the delay was consistent then I can put it down to processing delay. Yes, I have asked Fidelity on occasions and they said they never received the funds. Some times the money is there 2 days after the paycheck, sometimes 14 days after and often a day or two after I ask about the status of the 401K deposit.
    – shikarishambu
    Jul 7 '16 at 22:44












  • 1




    +1Yes, a one week delay is not unreasonable. a one MONTH delay, and the company is skimming interest, but not one week.
    – Richard U
    Jul 7 '16 at 17:44










  • Didn't think that it could be a batch processing delay. Good call.
    – JasonJ
    Jul 7 '16 at 18:14










  • If the delay was consistent then I can put it down to processing delay. Yes, I have asked Fidelity on occasions and they said they never received the funds. Some times the money is there 2 days after the paycheck, sometimes 14 days after and often a day or two after I ask about the status of the 401K deposit.
    – shikarishambu
    Jul 7 '16 at 22:44







1




1




+1Yes, a one week delay is not unreasonable. a one MONTH delay, and the company is skimming interest, but not one week.
– Richard U
Jul 7 '16 at 17:44




+1Yes, a one week delay is not unreasonable. a one MONTH delay, and the company is skimming interest, but not one week.
– Richard U
Jul 7 '16 at 17:44












Didn't think that it could be a batch processing delay. Good call.
– JasonJ
Jul 7 '16 at 18:14




Didn't think that it could be a batch processing delay. Good call.
– JasonJ
Jul 7 '16 at 18:14












If the delay was consistent then I can put it down to processing delay. Yes, I have asked Fidelity on occasions and they said they never received the funds. Some times the money is there 2 days after the paycheck, sometimes 14 days after and often a day or two after I ask about the status of the 401K deposit.
– shikarishambu
Jul 7 '16 at 22:44




If the delay was consistent then I can put it down to processing delay. Yes, I have asked Fidelity on occasions and they said they never received the funds. Some times the money is there 2 days after the paycheck, sometimes 14 days after and often a day or two after I ask about the status of the 401K deposit.
– shikarishambu
Jul 7 '16 at 22:44


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