Money For 401k Taken From Paycheck But Not Going Into 401k Account
As the title says: it was found out that money from our (myself and the rest of staff) paychecks that was supposed to be going into our 401k account, was not. The money was being deducted from our paychecks for months but not accounted for in our 401k accounts which means no match was received and obviously no interest has been made for months. We are told that no one knows what/why this happened and that we will be paid back our money, the match, and a calculated interest rate that we should have been making during this time.
We are also being told the company doesn’t have money to make payroll and that they don’t know how to get everyone paid back the money that is rightfully theirs. On another note, my commission check was withheld from me this pay period and I was told it would be paid next pay period. Others that receive commission were paid their money this pay period.
Obviously this is sketchy, but I just don’t know how to approach this and move forward. I don’t want to see anyone go down or get hurt, but this feels like a bad situation. Any legal advice for what my options are as an employee would be appreciated.
Location: MA
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