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illinois employer not depositing money in 401k

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  • illinois employer not depositing money in 401k

    My employer does not deposit my 401k money on time. Sometimes they go 2-3 months before they deposit money that has already been taken out of my checks. Does state government regulate this. Who should I complain to? I have complained to my employer multiple times, but it continues to happen.

  • #2
    File a complaint with the federal Dept. of Labor. The law requires such deposits be made within a "reasonable" time, which has been interpreted to mean no later than the 15th of the following month. As I just posted in another thread, the government does not look kindly upon employers who divert employee retirement contributions to the operating expenses of the business (and, why else would they do it?).
    I don't respond to Private Messages unless the moderator specifically refers you to me for that purpose. Thank you.

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