QUESTION
Is it legal for the company to take the FRINGE BENEFIT pay from the prevailing wage and put it into a 401k plan without our consent?
Asked on Mar 29th, 2014 on Labor and Employment - Texas
More details to this question:
A few of us were notified the other day that our company is starting 401k plans for us. They say it’s mandatory. It's my money, I earned it. I do not want it put there, I need it for living every day.
5 ANSWERS
I believe this is completely legal but I do not know. You should ask a tax advisor.
Answered on Apr 02nd, 2014 at 8:13 PM
Get the information about the benefit. Generally, the company puts money in the account and you have the option to put some of your money in the account. The money that they put in the account is not your money, but a benefit that they are giving to you. You are not required to put your own money in the account.
Answered on Apr 01st, 2014 at 6:32 PM
Appellate Attorney serving Grosse Pointe Farms, MI
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Need details but generally persons are not entitled to a current cash equivalent to fringes. You can engage an attorney with the details and for a firm opinion.
Answered on Apr 01st, 2014 at 6:32 PM
An attorney would need complete information and documents to adequately respond to your concern.
Answered on Apr 01st, 2014 at 6:31 PM
Bruce A. Coane
That's an interesting question. Normally, it is illegal for an employer to take your wages without your permission.
Answered on Apr 01st, 2014 at 6:31 PM