[M-technik-3]

My employer pays into my account same day, but my gal's employer seems to take forever last pay period it was over 10 days and whil it may not seem like much this adds up when the money is being sent every week. That allows the employer to make interest off your money it seems for say 20 days out of the month while you get 15 days if you get paid every two weeks.

Is that legal? It probably is due to the way our gov't allows lobbyist to sway system to work for them vs the people.

Did she or I miss that in the tiny legal mumbo jumbo?

Thanks

[RickFLM4]

I don’t think so. I think they have to deposit employee deferrals as soon as they are able to do so. There may be a window that is permissible - say a week at most. There is also probably a difference for employer voluntary contributions vs. employee contributions. Try googling or checking DOL or IRS website.

[David70]

https://www.irs.gov/retirement-plans...each%20payday.

Department of Labor rules require that the employer deposit deferrals to the trust as soon as the employer can; however, in no event can the deposit be later than the 15th business day of the following month. Remember that the rules about the 15th business day isn't a safe harbor for depositing deferrals; rather, that these rules set the maximum deadline. DOL provides a 7-business-day safe harbor rule for employee contributions to plans with fewer than 100 participants.

[M-technik-3]

She works for Saint Vincent's Hospital network. Well over a 100 employees and sounds like they are gaming the system. My former employer did the same thing as well as he stole from it.

He got a lame fine and is enjoying life with a new business. I pay attention to the details after that one.