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Employer late with payments to SEP and simple IRA


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I've been working for the same employer for 19 years. After the first year, they were late with payments of my money, not their matching funds, at least 2 or 3 times a year for a varying number of months. I didn't do anything about it because I didn't want to lose my job. Now I'm moving out of state and I'd like to know what I can do. Most of what they owe has been paid except 2015, of which they've paid only 2 months. I've read that there is a formula for the earnings loss, but this may not be very much since the amount I was putting in was only around $100 per month. I currently live in Florida.

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The DOL has a calculator where you can calculate lost earnings http://askebsa.dol.gov/VFCPCalculator/WebCalculator.aspx

If it was me I'd write a letter to the employer and send it with some sort of tracking asking them to make all missed deposits within 30 days or you will be contacting the Department of Labor. Then if they don't make them, contact your local Department of Labor office. If they can't help you directly, they can point you in the right direction.

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  • david rigby changed the title to Employer late with payments to SEP and simple IRA

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