SER

What if loan amounts ARE being deducted from your paycheck and you find out that these loan payments are just not being made? My employer recently changed payroll companies and our retirement plan is still managed by the previous company. The last two paychecks (from the new payroll company) had my loan payment deducted, but I was notified by the previous company that I had missed two loan payments and was in danger of default. When I asked my employer about this, I was told that they are having a difficult time figuring out how to make these payments through the new payroll company, but that I shouldn't worry because they have been assured that these payments really don't need to be made until the end of the year. I am now having them write me checks for the amount withheld from my paycheck so that I can make the payments myself through my online retirement plan account. Another questionable practice happening is that, with the changes, our retirement plan payroll deductions (12% with a 4% employer match) have been "temporarily" stopped and we have been encouraged to "save" the money that is now not being deducted from our paychecks, so that when the retirement plan is re-setup, we can deposit those monies into it - no explanation has been offered for what will happen with the employer match portion. My trust in my employer is very low right now considering that they weren't telling us about any of this until questioned.