How much does your employer kick in to your 401k? I’m a financially illiterate guy in my mid 40s who has worked in the film industry since I was 20. Because of the nature of the business I’ve never had a 401k and I’ve no idea how they work. Due to the strikes I’m currently looking for employment outside my industry. While interviewing yesterday I was told the company would match my 401k contrib…

Can employer prevent you from contributing income from tips to your 401k? My employer recently updated our 401k plan & I just discovered that they are not allowing me to contribute income I receive from my tips into the plan anymore. (I’m in hospitality and the majority of my income (~70%) is tipped based.) If I’m now only allowed to contribute my hourly pay (even if I put ALL of the money I make hourly), I will still…

Is my employer 401k good or bad? Gpimg by the title, you can see that 401k is not my strength, I am learning more about it and I just wanted to see how good my employer plan is compared to what’s out there “matching contribution equal to 25% of the first 12% elective contributions not to exceed 3% of your compensation for that plan year” I am at the moment not opted in (instead…

Employer wants to pay me via “Expense reimbursements” Florida W-2 For a bit now, my employer has been paying several salaried employees within the company a portion of their salary as an expense reimbursement. In addition, I receive a profit sharing bonus every 4 weeks that is paid to me via zelle. Obviously, this is payment under the table to avoid payroll taxes What is my liability in this situat…

Stepmom in hospital for stroke but left uninsured by a previous employer’s ongoing clerical errors If there is a better sub to post this, please let me know. TLDR: Stepmom is in hospital for a stroke. She is currently uninsured because a former employer screwed up termination paperwork and they’ve been unable to start COBRA coverage. It’s been 4 months and the issue is not resolved. Is there a retroactive solution to receive health coverage (…

I need help understanding my employer’s 401 terms Just started a new job this recent monday. I’m 20 and I landed a entry level government position as a CSR paying $18 (hopefully get promoted to the IT department which pays $22). I’m applying for my electives and benefits right now but the 401K terms kinda confuse me. I’ve never had a company offer 401K prior so this is all new to me. It states …

How to Open a Health Savings Account Without an Employer A health savings account (HSA) is a smart way to store away extra cash, tax free, to pay for approved medical expenses. Essentially, it’s a personal savings account that can be used only for medical expenses. While the option to open an HSA is typically offered by your employer, you still have options even if you… Read more…

Employer mishandling of my HSA… My employer switched over to a different HSA servicer and completely mishandled the money during this process. I have checked pay stubs and have a total of ~$2600(my contribution + employer contribution) year to date that should be in my account. There is currently only ~$1600 YTD. I’ve asked HR though the year about what is happening with no sp…

Laid off from job, what to do with 401K if employer says account can remain open. I was laid off and do not have a new job yet. My options are to leave the amount in the 401K alone with my old employer or roll over to a traditional IRA. I currently have a Roth IRA with Charles Schwab but have been looking at other companies as well. If I am unemployed at the moment why should I roll over the money to another account if I can…

Is my employer committing fraud and am I liable too? I began working for a construction company about 8 months ago and was hired as a 1099 worker. I’ve never been 1099 and I’m new to construction so I didn’t think much of it. I have had some issues with it (an obvious way to get around paying me benefits is the major one) since being hired but after seeing another post on here I’m realizing my emp…

First job, employer didn’t take out taxes from first paycheck, what do I do? For context, I started my first ever job at $11 per hour two weeks ago (09/05). To be honest, I was skeptical because of how quickly I was hired and how easy the process was, seeing as my employer only had me fill out a single form which determined my availability. I didn’t fill out any other forms and being as it’s my first job, not sure what f…

I received an automatic force out notice from my last employer’s profit sharing plan, and I’m losing 75% of the matching I’m no longer employed by them, and I have three options: – Rollover to an individual IRA (lose 75% of their matching) – Rollover to another employee sponsored plan (currently a contractor, no can do) – Early withdrawal, penalty of 10% will apply + tax for early withdrawal I’m not really sure what to do. No one ever really tells you things when …

Should I get a high deductible insurance plan myself (i.e. NOT provided by employer)? I started a new job in April and missed the enrollment period so I have to wait until Oct. 31st to enroll in my employer’s health insurance benefits. HOWEVER, I’ve been reading up on a lot of investment strategies and learned that HSA can be a great tool to invest in given if you are young, healthy, and don’t go to the doctor’s often (me!). The …

Defying Industry, California Lawmakers Vote for Employer-Paid Food Training The legislation would require state employers — not workers — to pay for mandatory safety instruction. It awaits the governor’s decision.

Former employer offering pension buyout? Take lump sum? take monthly payments, or wait til retirement? I worked for a large corporation (F500) that had a pension plan from 2000-2006. I knew I had a pension, but never figured it was much since I’d only been there for a relatively short time. Over the years, I’ve gotten statements about the fund itself, but never anything about a balance until recently when I got a package offering to pay out a lum…

employer is terminating our defined benefit pension plan Hey All, my employer notified us that he is terminating our defined benefit pension plan. I was informed that I will be receiving around $120k and was told I should open a traditional IRA for the funds to be transferred to sometime in the next few months. I guess my primary question is, is this the “best way” to handle the funds I’ll be receivin…

How do I get the double tax advantage for an HSA outside my employer? 25 years old, just got really serious about making sure I’m taking advantage of retirement options, tax advantages, etc this past year. I’ve maxed out my Roth and am paying up to my 401k match. My next target was an HSA. I have checked and my current insurance qualifies as a HDHP. My current employer doesn’t seem to offer an HSA plan, and I’m go…

Employment expense refunds never received, employer says otherwise My employer (large corporate company in USA) owes me around 2.5k EUR in refunds for expenses incurred during work-related travel. The employer tried to transfer these funds through Bank of America, passing through some intermediate banks, with the final target bank in Europe. My bank never received the funds, and when I contacted my employer, th…

My employer never pays me on time I work part-time for a very small sales firm 4 days a week, I’m off on fridays and paid hourly. I get paid monthly but I’m never paid on time. I’ve been working here for about 4 months now.. the first pay check I received was almost 2 weeks late, the other ones a few days late, and when they do come they’re always short a full amount I’m owed. I…

(US) Can my employer require me to show up to work before pay begins? My employer requires us to arrive an hour in advance, for this hour we are not paid and are often required to do work. submitted by /u/AdorableChemical5504