Guest Guy Incognito Posted June 17, 2011 Posted June 17, 2011 Company just realized that it overpaid an employee a signficant amount over a year ago. Company is now seeking to recoup the overpayment. Elective deferrals were made on the overpayment (and matching contributions on those elective deferrals). If the company simply reduces the employee's base rate of pay to recoup the overpayment, will this issue simply correct itself (i.e., less compensation on which to make deferrals)? Any other thoughts on how to correct? Thanks.
QDROphile Posted June 17, 2011 Posted June 17, 2011 There are so many misconceptions implicit in your post that I am moved to suggest getting competent legal advice about what is going on.
Guest Guy Incognito Posted June 17, 2011 Posted June 17, 2011 There are so many misconceptions implicit in your post... Such as?
david rigby Posted June 17, 2011 Posted June 17, 2011 There are so many misconceptions implicit in your post that I am moved to suggest getting competent legal advice about what is going on. I hope the EE gets legal advice also! I'm a retirement actuary. Nothing about my comments is intended or should be construed as investment, tax, legal or accounting advice. Occasionally, but not all the time, it might be reasonable to interpret my comments as actuarial or consulting advice.
QDROphile Posted June 17, 2011 Posted June 17, 2011 1. If the company simply reduces the employee's base rate of pay to recoup the overpayment This would be illegal in most states.
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