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Old employer attempting to claw back 401K match after I quit. Halp
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| Motley people who are hurt private investor | 08/24/17 |
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Date: August 24th, 2017 1:48 AM Author: Territorial famous landscape painting hunting ground Subject: Old employer attempting to claw back 401k match after I quit I changed jobs a few months ago and rolled over my 401k into a roth IRA. I noticed that about $8,000 was included in the sum that I wasn't expecting, as it represented an unvested 401k match. I figured they changed the vesting policy or something and didn't alert anyone to it obviously.
Today I got an email saying the retirement plan management company noticed the error and are demanding I write them a check for the 8k. They even cheekily included pds of descriptions of courts favoring corporations/retirement plans and forcing employees to return the erroneous retirement distributions. They even came after someone's house after she used the retirement distribution to purchase it.
Do I have any options here? It's obviously pretty annoying I have to write a check for 8k just because some accountant fucked up. |
Date: August 24th, 2017 6:09 AM Author: Motley people who are hurt private investor My understanding is that you're generally not allowed to keep misdirected funds from bank errors or whatever. Not sure what you could rely on to say you're allowed to keep the money. (http://www.autoadmit.com/thread.php?thread_id=3710332&forum_id=2#34057923) |
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Date: August 24th, 2017 4:33 PM Author: Nighttime gunner preventive strike so you're saying monopoly lied to me?
http://www.blackenterprise.com/files/2010/09/bank_error_in_your_favor.jpg |
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Date: August 24th, 2017 4:35 PM Author: adventurous trailer park Nope. He just didn't get caught. (http://www.autoadmit.com/thread.php?thread_id=3710332&forum_id=2#34061099) |
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Date: August 24th, 2017 5:26 PM Author: up-to-no-good aquamarine filthpig cr
http://www.xoxohth.com/thread.php?thread_id=3710728&mc=1&forum_id=2 |
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Date: August 24th, 2017 6:13 AM Author: startled jade library not sure but sounds like youre prob fucked and should give the money back. (http://www.autoadmit.com/thread.php?thread_id=3710332&forum_id=2#34057927) |
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Date: August 24th, 2017 1:52 PM Author: Know-it-all Hissy Fit Sanctuary It's unvested money you're not entitled to and have no claim to; give it back. (http://www.autoadmit.com/thread.php?thread_id=3710332&forum_id=2#34059937) |
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Date: August 24th, 2017 3:37 PM Author: up-to-no-good aquamarine filthpig (chink bootlicker) (http://www.autoadmit.com/thread.php?thread_id=3710332&forum_id=2#34060704) |
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Date: August 24th, 2017 1:55 PM Author: stirring domesticated pistol gay wizard Ljl at lawyercucks. Dont respond. (http://www.autoadmit.com/thread.php?thread_id=3710332&forum_id=2#34059951) |
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Date: August 24th, 2017 1:57 PM Author: charcoal parlor (http://www.autoadmit.com/thread.php?thread_id=3710332&forum_id=2#34059971) |
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Date: August 24th, 2017 1:58 PM Author: Swashbuckling station (http://www.autoadmit.com/thread.php?thread_id=3710332&forum_id=2#34059979) |
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Date: August 24th, 2017 1:58 PM Author: up-to-no-good aquamarine filthpig (http://www.autoadmit.com/thread.php?thread_id=3710332&forum_id=2#34059985) |
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Date: August 24th, 2017 1:56 PM Author: up-to-no-good aquamarine filthpig fuck them. make them litigate it. claim reliance. it'll cost them more than 8k to get 8k back. (http://www.autoadmit.com/thread.php?thread_id=3710332&forum_id=2#34059959) |
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Date: August 24th, 2017 1:57 PM Author: stirring domesticated pistol gay wizard Exactly. Plus its easy to avoid service. LOL at pussy ass lawyers ITT (http://www.autoadmit.com/thread.php?thread_id=3710332&forum_id=2#34059969) |
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Date: August 24th, 2017 1:57 PM Author: up-to-no-good aquamarine filthpig (http://www.autoadmit.com/thread.php?thread_id=3710332&forum_id=2#34059975) |
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Date: August 24th, 2017 3:23 PM Author: Territorial famous landscape painting hunting ground Sorry i'm a stem dood and i don't know what this means. could you elaborate at all?
On one hand the money doesn't technically belong to me but i also don't see why some idiot making a $8,000 accounting mistake shouldn't cost his company $8,000. |
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Date: August 24th, 2017 3:33 PM Author: stirring domesticated pistol gay wizard Make them take you to court over it, dont acknowledge receipt of the email, dont answer any calls from them, dont sign for certified mail and dont answer your door (http://www.autoadmit.com/thread.php?thread_id=3710332&forum_id=2#34060679) |
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Date: August 24th, 2017 3:35 PM Author: fishy church building (http://www.autoadmit.com/thread.php?thread_id=3710332&forum_id=2#34060695) |
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Date: August 24th, 2017 3:36 PM Author: up-to-no-good aquamarine filthpig (http://www.autoadmit.com/thread.php?thread_id=3710332&forum_id=2#34060698) |
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Date: August 24th, 2017 3:39 PM Author: Territorial famous landscape painting hunting ground Would they take me to court over it? There's probably some threshold below which they wouldn't, e.g. if i owed $500 or something.
I feel like I already fucked up because I forwarded the email to a friend so I don't know if that email exchange could be subpoena'd or something?
Is it possible I'd have to pay their legal fees if I lost in court? |
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Date: August 24th, 2017 3:48 PM Author: up-to-no-good aquamarine filthpig $8k might or might not be below a threshold where they wouldnt take you to court. how big is this company? even if they do take you to court, make them spend the money.
anything's possible but fee-shifting is pretty rare in most cases like this.
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Date: August 24th, 2017 3:51 PM Author: stirring domesticated pistol gay wizard Cr (http://www.autoadmit.com/thread.php?thread_id=3710332&forum_id=2#34060811) |
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Date: August 24th, 2017 3:50 PM Author: Rambunctious Gaming Laptop cr. grow a beard too (http://www.autoadmit.com/thread.php?thread_id=3710332&forum_id=2#34060804) |
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Date: August 24th, 2017 3:37 PM Author: up-to-no-good aquamarine filthpig why shouldn't GC making an $8k mistake cost GC $8k?
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Date: August 24th, 2017 3:46 PM Author: stirring domesticated pistol gay wizard (http://www.autoadmit.com/thread.php?thread_id=3710332&forum_id=2#34060777) |
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Date: August 24th, 2017 4:30 PM Author: diverse cuckold old irish cottage (http://www.autoadmit.com/thread.php?thread_id=3710332&forum_id=2#34061068) |
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Date: August 24th, 2017 1:59 PM Author: aphrodisiac corner doctorate (http://www.autoadmit.com/thread.php?thread_id=3710332&forum_id=2#34059993) |
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Date: August 24th, 2017 1:59 PM Author: Marvelous principal's office unvested 401k match>>>
that's the long and short of it. send it back. or tell the companies to work directly. you shouldn't have to do it from your own funds. this is a manager to manager action. |
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Date: August 24th, 2017 5:18 PM Author: Wine step-uncle's house Exactly. If you're giving it back, don't write them a check. They need to get it out of your IRA, and that's their fucking problem, not yours. You don't work for them. (http://www.autoadmit.com/thread.php?thread_id=3710332&forum_id=2#34061356) |
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Date: August 24th, 2017 3:37 PM Author: Big peach dingle berry giraffe LJL at them actually litigating over 8k. That's a rounding era. No one sane is retaining counsel to go after you for $8k. I would only write them a check the day after a complaint is served. (http://www.autoadmit.com/thread.php?thread_id=3710332&forum_id=2#34060705) |
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Date: August 24th, 2017 4:29 PM Author: Thriller brilliant kitchen Is this legal advice? (http://www.autoadmit.com/thread.php?thread_id=3710332&forum_id=2#34061060) |
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Date: August 24th, 2017 8:45 PM Author: Slimy Copper Institution Headpube Agreed, assuming there is no fine print in your retirement plan that allows them to get the money short of suing you. If they sue then you can capitulate or negotiate, claim hardship and offer 5k. (http://www.autoadmit.com/thread.php?thread_id=3710332&forum_id=2#34062618) |
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Date: August 24th, 2017 3:53 PM Author: Brindle effete mental disorder rehab (http://www.autoadmit.com/thread.php?thread_id=3710332&forum_id=2#34060840) |
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Date: August 24th, 2017 5:18 PM Author: Lemon mind-boggling roommate nursing home ignore (http://www.autoadmit.com/thread.php?thread_id=3710332&forum_id=2#34061357) |
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Date: August 24th, 2017 8:12 PM Author: mentally impaired iridescent police squad Odd flame, but I read all the way here. Nicely done xo. (http://www.autoadmit.com/thread.php?thread_id=3710332&forum_id=2#34062428) |
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Date: August 24th, 2017 8:50 PM Author: Green insecure national Definitely not yours to keep, but you probably can anyway. Large qualified plans essentially never litigate to recover mistakenly paid funds. There's no telling what a rando little co Will do. There's basically no support for a reliance argument in this case. (http://www.autoadmit.com/thread.php?thread_id=3710332&forum_id=2#34062632) |