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Job market is brutal for SWEs 🥲
Welcoming advice on how to deal with employer 401K foul up. Employer uses Trinet for HR, Empower for 401K trustee. Employer changed 401K plans mid-year. Due to poor planning and execution of the transition, I missed 2 pay cycles of employer contributions. I suspect as many as 20% of employees were similarly affected, but have no data on that. I've emailed our CFO a couple of times, with no response. At the recent company all-hands, he said they were aware of issues and were working out a way to "make people whole." That's been weeks with no action. Raised issue formally with Trinet, now plan administrator, and they blame me for the missed contributions. I think they're wrong, with evidence to back up my claim. End of calendar year is approaching, which can complicate issues. The SPD lacks an explicit true-up provision. I could write the local Department of Labor office that handles ERISA with full documentation. That's likely to begin a federal investigation, which would seriously annoy upper management. For me, the amount of money is very small, but I don't like to see such a precedent set company-wide. I also have issues of greater substance that's I'd like to not jeopardize: thousands for relocation yet to be approved, no commitment on gross-up for relocation, promotion and raise under discussion, but all on-the-come. Wondering if Blind can be a vehicle for other employees to share anonymously, get good data together on the number of individuals affected, and approach management respectfully as a group. My experience dealing with management at other organizations tells me that their job is to divide people, keep them from sharing and collaborating, split off any leaders and either buy them off and let the sheep remain helpless, or get rid of the leaders.
So you just didn’t have contributions for 2 months? Realistically that’s an incredibly small thing, just increase your contributions next month to catch up. It literally doesn’t matter.
You should talk with your lawyer, before you foreclose your claims by doing something foolish, because you think you understand a complex area of the law.