Hello, need some advice.
For several months my retirement match was not placed in my retirement account. Employer reported they had paid the match to the retirement account company. After over half a year that company finally deposited funds but at the current market cost. If they had deposited in a timely manner then my account would have made more profits as the market has trended up for many months.
I reported the discrepancy but the retirement account company reports they are not obligated to deposit funds until the 15th day of the 10th month of the year.
I feel shorted. They’ve taken an interest free loan from me as far as I’m concerned. I’ve heard this is happening to multiple people under my employer and may be happening across the country.
Are they right? Is this fraud? Who would be best to contact?
Thanks for any advice.