Employer changing pay roll company and 401K plan company

Hello,

This is Not my first issue with my company but only asking about the newest screw up they did. So, my employer changes pay roll companies almost every other year, same with medical benefits and 401k plan companies. Thank God I am 64 years old and won't have to deal with much longer. I have been with them this Feb 7th 47 years this week. Here is my problem. 401k company 2023 I had a loan for around $24,000 and then after last paycheck in 2024 employer moved to new company. So have had an issue kind of like mine but mine is worse. You see my money from 2023 401k was moved finally. But my loan wasn't moved. So now I have spent hours on the phone with both 401k 2023 and 2025. Since I am in black out on 401k plan now I can Not view anything. I can now view my 401k plan 2025 and it shows no loan what so ever, I have called 401k 2025 and they say they see nothing about a loan. Before I go on my direct boss also has a loan same 401k company and all of his 401k money and loan balance was moved. I know what your saying contact your direct HR person and ask. I called her, emailed her 3 times and finally after sending a read receipt she replies Hang Tight Kevin. I have been alone all week, other person out of office. Will let me know soon.   well today is last day of black out. O yes and for the last 3 pay periods it says on my check that $220.12 was removed to pay my loan. So now this is 3 pay periods. So just over $660 of my hard earned money was removed from my check and no one knows where it is. Besides that I get paid again this Friday and I am sure the $220 will be removed again. Lucky for me and since I have been dealing with stupid people with I have learned to take notes and names and emails.  It is not the fact this Friday  my wages are missing $880 it is the fact that 401k company 2025 has said I could be found in default. A 20% penalty, Well, not this time HR. I might be leaving earlier than I thought, Any ideas on how I can get some help? I have all phone calls and emails and notes for this problem. I am so glad that the stupidness didn't start until about 19 years ago.

thank you

Kevin T

If you are in black out, they may not have loaded your loan on to the new providers platform yet. Check the day after you come out of blackout. If doesn't show up, talk to the person in your company who handles the 401(k) and tell them they need to straighten this out or you'll contact the DOL.

Thanks for your reply. Its not just my loan payment either. I put 14% out of my check towards my 401k. My loan payment is $440.70 per month. All this has been removed from my check since Jan 1 almost 2 months now. Besides all those above amounts they also have not made 1.     4% matching amount at 50%

The way I figure this out it is around $4500 so far since Jan 1. It isn't just me. My boss makes more and has 20% to his 401k plan. Another man is doing catch up because of his age. He said he put $850 per week into his 401k and has nothing to show for it.

If money is being withheld from your paycheck and not deposited to your 401(k) that is a serious concern. If your employer is not giving you a straight answer and you feel that you have exhausted your options internally, you can reach out to the US Department of Labor who has enforcement authority when it comes to employee rights in retirement plans.

Here is their website:

https://www.dol.gov/agencies/ebsa/about-ebsa/ask-a-question/ask-ebsa

By the way, a blackout period is not an excuse to not deposit your contributions or loan payments. The only thing that is restricted during a blackout period is that you can not change your investments, and you might not be able to request a new loan. Your money that comes out of your paycheck still has to be deposited to your account in a timely manner.