sbuck

The underpayment was due to a his not having received automatic pay raises due him; he earned the money and due to a misclassification that was not caught, he was not paid the correct amount.

Ok, this is a little strange and well outside of my wheelhouse; I would appreciate any input and a direction on where to begin. An employee died in late 2021; at the time of his death a review was being conducted of his pay. It was later determined that he had been underpaid and a retroactive pay order was going to be necessary; a large retroactive pay order. A portion of this pay will be a 401k employer 2% contributions. Because final wages to the employee will not be paid during the year he died, the wages aren't subject to FITW. We are unsure how this affects calculating 401k contributions. Again, this is well outside of my wheelhouse and I do not know where to begin. I appreciate any and all input.

yeah, the money did stay with the plan and continued to earn money during the delay. There was no loss within the terms of the plan.

PC left employment and attempted to rollover employer sponsored 401K to private account. Due to an administrative error, one by the employer and one by the TPA the rollover did not occur until about 70 days after it was originally scheduled. PC alleges that due to the error he lost a significant amount of money because he was unable to pursue the investment strategy recommended by the private account manager. I don't see any relief available under the plan document; the loss he claims is speculative and occurred outside the terms of the plan. Is this a 502(a)3 claim, a nothing claim, or something in between? I'm trying to get ideas because I think I'm getting a little tunnel vision on it. Thanks for any ideas, suggestions.