Last night I was reviewing my 401K statements and pay stubs for the past year. I know I should review this on a more consistent basis. I noticed one discrepency. I contribute about $570 to my 401K every pay cycle (twice a month), however, there was one contribution for $460 in the month of June. I also had 4 deposits in the month of June. The deposit date into my 401K account is not always the exact date that I get paid - it's typically a few days later. So I tried to call Merrill Lynch. Of course, it was after hours and they were closed. At first, I thought they had deposited about $100 less than they owed me. After continuing to review the statements, I realized that I appeared to have an extra paycheck for June. However, when I actually clicked and looked at my paycheck, I saw that it was a test document. So in reality, I now believe that Merrill Lynch gave me an extra $460.
I was dreading having to call them to clear this up.
In a situation like this, would you call the company up and let them know or would you let them (potentially) figure it out and let you know?
Saturday, July 22, 2006
Discrepency in my 401K
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2 comments:
If its a big company then I wouldn't bother calling them. It will be a bigger headache for you than anything.
If it were a mom & pop shop, for some reason I'd feel much worse about it and would try to return the money.
Its the evil corp mentality.
But you are wise to verify deposits. Once I paid an extra $100 on my 2nd mortgage and they never credited me for the extra principal. No one ever called me.. see, they are evil companies ;)
Could it be that the money is a reinvestment of a stock or mutual fund distribution?
Or maybe a rebate due to some lawsuit against Merrill Lynch?
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