QUESTION
Can I fight for my 401k contribution if I'm laid off before I'm vested?
Asked on Jan 30th, 2017 on Labor and Employment - Pennsylvania
More details to this question:
I was laid off after two years and was told I would get to keep my employers' 401k contributions even though I wasn't considered vested until three years. I had assumed the company would honor this, because I didn't leave of my own volition. Now, after the fact, they're telling me I will lose the money. Is there any way to fight this since I didn't get it writing?
1 ANSWER
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The quick answer is probably not. I know that seems unfair, especially if you were terminated through no fault of your own. You'd have to review the terms and conditions governing your employer's plan and your employment handbook for a more specific answer. Assuming for a moment that there something in those documents that might give you a reasonable argument, is there enough in contributions to justify retaining counsel to fight? After two years on the job it might be a close call from a cost-benefit point of view .
Answered on Jan 31st, 2017 at 9:22 AM