401K PLAN ELIGIBLE, COMPANY NEGLECTED TO OFFER

I've been working for a company as a independent, 'temporary, seasonal' employee receiving a W2 since August 2019.  I recently found out that I was eligible to enroll in their 401K plan since October 2019; however, i was never notified until recently (within the last few weeks).  Nor was I automatically enrolled in 2022.  All along, i believed that I was not eligible due to my employee 'status'. My immediate supervisor was not aware, either.  I recently asked my supervisor if I should enroll now, but was advised to wait until HR gets back to us.

It is my understanding that the company is required to compensate me for lost savings.  i am highly compensated ($150+ annually), work 40 hrs/per week.  In my previous jobs, i always enrolled in 401K and had the maximum allowable contributions,  including 'catch up' contributions (I am over 70 years old), and yes, still work full-time.

I'm waiting for HR at the company to get back to me with a resolution.  in the meantime, i'd like to try and calculate what the compensation will be--at least be in the ballpark--.  Is this something I can do myself?

Thank you

Do they have a recordkeeper? If yes, they usually calculate Gain/Loss projecting what would be the present value of the account.

I assume they do.

Does the company use  a TPA? If so, they may have a compliance department that can  handle the correction. 

I don't know for sure, but i have been advised that they 'are working on it'

They are stalling.  Remind them again of your request and ask for a reply within 2 weeks.

You might be able to identify the TPA/recordkeeper at this site, https://www.efast.dol.gov/5500Search/.  Search by plan name or sponsor name, then identify the precise plan.  The name of the recordkeeper might (not required) be included on Schedule C or somewhere within the attached audit report.

Read up on "missed deferral opportunities"...there's lots of stuff on the internet concerning this.   You indicate not only failure to enroll but also autoenrollment issues.  This could affect correction methodology.  You might need to know the ADP for HCEs under the Plan for the affected years.  At a minimum, you should get a copy of the plan's summary plan description for the affected years.  

Write to HR demanding a written copy of the plan document and SPD. Not only should you be eligible forlost earnings but the employer has to kick in an employer contribution according to IRS correction procedures. The employer has to provide the plan document and SPD within 30 days of your written request. If they keep stalling, hire an attorney to go after them.

Like @rocknrolls2 says get that SPD, and then review the SPD for what the contributions were but there will not be enough detail in there to get a precise calculation.  I recommend the SPD so you can review the claims procedures.  Make a formal written claim for benefits and follow the rules in those claims procedures. If there is no movement on the claim, contact the DOL EBSA by phone or I think you can file a complaint online at AskEBSA.  Also contact the IRS.  Maybe contact the taxpayer advocate service and they can direct you to the right office.  You could contact an attorney, but this will cost you dollars, as most are not going look at this pro-bono... you are an HCE... or on contingency.   Personally, I only point people to attorneys when the amount lost is substantial, the DOL or IRS don't move the needle, or employer is retaliating for making the claim, etc.   Sometimes a delay is not bad.  For example, under the missed deferral opportunity rules, where there is automatic enrollment, sometimes the required missed deferral contribution is lower if the error is corrected shortly after notice (whereas it goes up if they drag their feet).