work2play
Structural
- Aug 2, 2005
- 7
Hello, I am not sure what forum to put this in, but this is a good spot. I have recently discovered some odd things with my employer and paycheck. The company changed 401k providers a couple of months ago so not getting a statement seemed typical of the changeover. I checked on the account about a month ago and discovered that money I have been setting aside for the 401k contribution has not been deposited for the previous 4 months. Direct deposit of paychecks have not been done a couple of times which was described as computer issues at the time. I have had a couple of discussions with the finance person and the owner who have since described it to the entire staff as a cash flow issue. Basically we have been told the company is very busy, but a couple of large clients have not been paying bills and that has caused the cash flow problem. They have made up for this shortfall by not making the 401k distributions. This has me concerned for a number of reasons to say the least. This is my money that is being taken. Has anyone else encountered this issue before? What other concerns or items should I look for, the worst being the company could go under and I lose the money. Needless to say, I am brushing up the resume. Thanks for the input. It would be nice to get third party opinions on this and hear other peoples experiences.