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401krepays

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Everything posted by 401krepays

  1. Thank you, that does help some. I will keep you posted.
  2. I apologize for being a newbie. Basically what was happening is since 2019 the employer was taking out a certain amount of the employees check every month which amounted to 99.61 and the employer matched the 99.61 every pay which equaled to 199.22. The employer just only recently started making deposits and still owes the employee money from 2021, 2020, and 2019. The employer is telling the employee that they do not owe any interest. Basically I am trying to find that calculator and figure out the correct amount. This is the for the state of Ohio if that matters any. So if I am understanding you correctly I am doing everything right but the $199.22 should actually be $99.61 correct?? (Im sort of hazey on your answer and I am more of a example type of a person.) Or is there another calculator somewhere that does both? Also how do I find out where the "VFCP" ? The payments were made through "adp" that was setup. This is what I originally found https://www.dol.gov/agencies/ebsa/employers-and-advisers/plan-administration-and-compliance/correction-programs/vfcp Again sorry for the questions and the ignorance, I am trying to learn this so I understand how it works, I appreciate the patience.
  3. I'm using https://www.askebsa.dol.gov/vfcpcalculator/ Please correct me if I'm doing this wrong. First one on 04/15/2022 is when they took 99.61 out of the persons check and had a match which was also amounted in 99.61 which equals = 199.22) The company then paid 199.22 into the 401k account on 8/30/2023 and the final payment shows in adp it went through on 8/30/2023. Please see attached screen shot. Edit: what is the difference between Recovery Date and Final? I did read the instructions but need this dumb downed for me.
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