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Thread: Employment Lawyer Question

  1. #1
    Administrator FSU_Jeep's Avatar
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    Aug 2014
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    Employment Lawyer Question

    So I have a question and first this is not for me I am gainfully employed and love my job.

    However if you were to be let go and you went to cash out your IRA or 401k account and found out that your employer had been withholding the deductions and not paying them into your account, neither your part nor the companies match portion for 3 or 4 months and had basically been pocketing that money or using it for other things...

    Do you hire a lawyer and sue or is this a criminal matter? Or likely just screwed out of the money?

    This would be under florida law.

  2. #2

    Re: Employment Lawyer Question

    It's conversion (most likely) - the civil version of theft. Yes hirer a lawyer. Should be able to recover attorney fees as well.

  3. #3

    Re: Employment Lawyer Question

    Sorry, but don't hire a lawyer, yet. This is an ERISA/DOL issue and should be reported to the Department of Labor's EBSA unit. 401k plans are heavily regulated in the timing of contributions and larger plans require an audit every year. Failure to comply could be criminal embezzlement for the plan sponsor and they could serve jail time. The threat of that alone should scare the company into compliance. If not, the EBSA will work to restore benefits. This is an agency that actually take their work extremely seriously.

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