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chocklita

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  1. No, I never made contributions and there was never any money put into this account. So therefore, I never received a statement. To be honest, I didn't know you received statements so I was never looking for one. My issue is that they lowered my percentage to 0% without any type of notification to me, essentially dropping my plan. Is this legal? I want to file a complaint somehow so that this doesn't happen to other people at this school. OR is it not illegal and I should move on?
  2. Sorry for the long response time. I can't do anything until I receive a transaction history from Principal (carrier of the 403B), which takes weeks. Let me provide more details, I apologize now for using any incorrect terminology as this is not my field and I am learning. After 5 years working for my charter school in NYC you become "fully vested" (Yes, Ed, employer contribution), so I decided to check my retirement account at Principal. (Full disclosure, hadn't checked it in 5 years. (And side note I am paying dearly for my ignorance and many things I did not fully pay attention to and won't do again, lesson learned). Anyway, I just trusted this money was there, etc. So I was shocked to find out that there is/was 0.00 dollars in this account. I'm like, what the hell? So I call principal and they tell me that I was enrolled at 4% in Sept 2014 and my employer changed my contributions from 4% to 0% in Aug 2015. I was never notified, knew nothing about it and would guess that this is some clerical error from someone who had been doing their job a whole of 2 months. Bottom line, I'm thinking I have retirement contribution. And in traditional Charter school style turnover the people in HR now aren't the ones from 5 years ago. They are telling me that I never enrolled. Principal says otherwise and I've been waiting on this document for a minute. As of Sept 1 I will also no longer be an employee, so they aren't going to get an opportunity to make it right by allowing me on the 403B at this point. My questions: is this legal, is it worth pursuing? I know I'm out what I should have put in but I at the very least want to file a complaint (with who?) and the most maybe recover the 4% my employer should have been contributing to this account. What should I do now? Thanks for your help and advice!
  3. I found out today (as I was preparing to leave my job believing I had finally reached my 100% vesting) that my employer dropped my 403b plan 6 months into my employment without my knowledge, notification, nada. Is this legal? I work in a charter school in NY.
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