full safe-harbor amount not met past 2 yrs, do they owe me interest or opp. cost?

[KingGheedora]

In 2008 and 2009 my employer didn't match the full amount they should have. I just noticed this now. They are under by about $2K.

My earnings on the account was 23% - 25%. It's only a little over $500, but i'm still curious about it -- do they owe me the amount that I would have earned had they contributed on time? Or do they owe me some amount of "default" interest for the time they had the money owed to me?

 

[rasczak]

have you talked to them about the shortfall?

 

[KingGheedora]

have you talked to them about the shortfall?

Of course I have. They got back to me and turns out there is no shortfall. They said in '08 I became eligible for the 401k late in the year, so only the salary I made from that point on counted towards safe harbor match.

 

[spidey07]

Of course I have. They got back to me and turns out there is no shortfall. They said in '08 I became eligible for the 401k late in the year, so only the salary I made from that point on counted towards safe harbor match.

That's how it normally works. What they match and how much of that match is actually vested (meaning it's yours) varies from company to company. But it's rare if they start matching before the first year.