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Righting a wrong

Posted by nomadw8 on 06/23/2009 - 10:16

Last September (2008) while employed, I discovered my employer (not a client but an employer) was, and had been for 5 years, making discriminatory discretionary 403b contributions to one employee's 403b account (the president of the organization's account) to the exclusion of all other employees in direct contradiction to the plan document as well as ERISA & IRS law.

The employer never took and apparently never intends to take any corrective action.

I feel morally compelled to right this wrong, particularly since most of the other plan members are handicapped & otherwise disadvantaged.

I have left employment with this organization.

I need some advice on how to handle this.

Terry ONeill

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Righting a wrong

You can start by clicking on this link to ERISA's site http://www.dol.gov/ebsa/erisa_enforcement.html and go to "Participant And Beneficiary Complaints" section. There is a phone number you can call. However, the plan's Third Party Administrator (TPA) is the party responsible for making sure the plan is in compliance. Your former employer may not be at fault.

Posted by fsuandi on 06/25/2009 - 09:31
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Amidst a certain amount of controversy, the AICPA and the Chartered Institute of Management Accountants have launched a new designation for global management accountants, the CGMA (Chartered Global Management Accountant). The designation is available to members of both organizations.
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