What's up with my 401k? I get 401k? Hmmm.

[edro]

Here is a pic of the statement I got in the mail.

I have worked as an intern @ Company X for over 2 years while going to school. All of the sudden, then other day, I get this statement in the mail. I was told a LONG time ago that I could not get 401k or Stock Purchase Plan becasue I was an intern.

As you can see, my contribution is Zero. The Company X contributed $400+. WTF? Will that stay there? I would ask my HR department, but they would prolly say "Thanks for telling us, we'll fix it." and delete my balance

Anyone have any ideas? I asked another intern there that has been there for 3 years and he has never gotten one.

 

[Zim Hosein]

edro13, if you selected 0% as a contribution, then just tell your HR dept., as they will catch the glitch in the future.

 

[edro]

When I first got hired, I filled out the 401k form, but they called me and said that I wasn't eligible to do that. If I could, I would....

What do you mean they will catch it in the future?

 

[Jugernot]

It's probably a accounting error, which they "will" find if they are any good. Sorry.

btw, if you are still an intern after 2 years... they are taking total advantage of your cheap labor. I'd say you could get a better job with your amount of experience, well... as long as you already knew about computers before you started the intership.

 

[edro]

Originally posted by: Jugernot
It's probably a accounting error, which they "will" find if they are any good. Sorry.

btw, if you are still an intern after 2 years... they are taking total advantage of your cheap labor. I'd say you could get a better job with your amount of experience, well... as long as you already knew about computers before you started the intership.

I am a full time student... nobody will hire me part time. I like it there, and I like what I do. The pay is pretty good as an intern as well. Also, after I graduate, it is expected that they will hire me full time with full time pay + my seniority.

 

[Jugernot]

Well, I'm a fulltime student and I work fulltime as a Network Manager a local corporate consulting company in town. I work at least 40-50 hours a week and get to all my classes on time... they will hire you, but you have be looking to find jobs.

Anyway, good luck. Sounds like you are going to have a good job when you graduate.

 

[Zebo]

Be honest. You did'nt work for it and were not entiled to it. Plus it might get you some brownie pts. ....


Be sure and email your supervisor you had during the intership. send a copy of that pciture too.

 

[edro]

Originally posted by: Jugernot
Well, I'm a fulltime student and I work fulltime as a Network Manager a local corporate consulting company in town. I work at least 40-50 hours a week and get to all my classes on time... they will hire you, but you have be looking to find jobs.

Anyway, good luck. Sounds like you are going to have a good job when you graduate.

There is no way in hell I could work that much and get good grades! I work 25 hours a week (1-6pm, M-F). That pays my bills and allows me to buy cool toys

 

[edro]

Originally posted by: Carbonyl
Be honest. You did'nt work for it and were not entiled to it. Plus it might get you some brownie pts. ....
Be sure and email your supervisor you had during the intership. send a copy of that pciture too.

Meh? Didn't work for it? HAHAHAHAHA! I work my @ss off!

 

[Zebo]

Originally posted by: edro13

Originally posted by: Carbonyl
Be honest. You did'nt work for it and were not entiled to it. Plus it might get you some brownie pts. ....
Be sure and email your supervisor you had during the intership. send a copy of that pciture too.

Meh? Didn't work for it? HAHAHAHAHA! I work my @ss off!

You know What i mean. You did'nt do the work or have the position which entiles you to such a benefit.

 

[Jugernot]

That's what I meant when I said you shouldn't still be an intern... because intern's are the bottom of the barrel as far as work goes. They don't have to give you benefits, etc. NOTHING.... You didn't earn it, that was my point.

 

[DaveSimmons]

Originally posted by: edro13

Originally posted by: Carbonyl
Be honest. You did'nt work for it and were not entiled to it. Plus it might get you some brownie pts. ....
Be sure and email your supervisor you had during the intership. send a copy of that pciture too.

Meh? Didn't work for it? HAHAHAHAHA! I work my @ss off!

Listen to Carbonyl and Jugernot
. You point out the error = brownie points. You wait for them to find the error (and they will) = grasshopper points.

 

[GroundZero]

i know that in this state, if you work for more than 1040 hours in a year they have to make you elligeble for benefits.
also the form says proffit sharing on it. this probably meens that you were elligeble for the profit sharing plan or bonus and instead of a cash payout they rolled it into your 401k. my profit sharing goes directly into a 401k plan as well as the contributions i make to it and the compnay's matching contribution.
these are two separate things, but they both go into the same 401k account.

also at 25 hours a week, you would be at around 1300 hours for the year...

 

[Aceshigh]

Hey, more than likely your company started a profit sharing plan over the last year. My company does this exact thing. Even if you decide not to participate in the 401k (or are not eligible to) they will open one up for you and make a profit sharing contribution for you at the end of the year. Even if you are not eligible for the 401k match, you would still be eligible for the end of the year profit sharing. At least my company is this way, and it sounds like yours might be too. The money is yours, but if you take it out you will be subjected to taxes and penalties. Also, they probably work on a vesting schedule, and depending on how long you have been with the company, it may be only partially vested right now.