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Does an employer who stops contributions to 401k plan set up by the employer have to pay back monies to the plan.
Oakland, CA
Viewed 67 times.
Posted 10 months ago in Employment / Labor
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my employer set up a 401 sar sep plan for the employees with a 1% match the first year with a promise to increase that amount by 1% each year, its come to the employees attention that he stopped matching our deductions with no notice to any of us, i read in the labor laws that this is punishable up to $1000, for over $500, or jail time is this true
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Answers (1)Elisa W. Ungerman
This attorney is licensed in California.
Posted 4 months ago.
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This needs to be answered by an attorney who specializes in ERISA plans in your area. I would contact one asap - there are a few in the Bay Area.
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