401(k) payroll error
05-31-2014, 09:53 AM
#1
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Joined APC: May 2014
Position: Tom’s Whipping boy.
Posts: 1,182
401(k) payroll error
Heads up to any of you that contribute to the CAL 401(k). Got a notice last week that a large amount of pay for unused vacation had been deposited to my 401(k) account. ( I would have much rather used those days, but welcome to the new United) Anyway- that deposit put me over the legal IRS limit for annual contributions. Payroll is still deducting and depositing $$$ into that account. Their records as shown on the payroll information in "ALL About Me" does not account for the unused vacation deposit. I called Schwab and confirmed the amounts with them This means that any amount over the IRS max will have to be withdrawn from the 401(k) account, refunded as regular pay and taxed. Check your own Schwab statements and your pay stubs. YMMV
05-31-2014, 12:24 PM
#4
Gets Weekends Off
Joined APC: Nov 2008
Position: B-777 left
Posts: 1,415
Because many times in the past they didn't assign all your vacation annually so you bid it monthly. I got stuck also 10 days and had a vaction in march and they would not award any for me in april, even called them. They just sent me a note as I have been trying to track it and they paid it to me. This is last years vacation.
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