Gold 401K

What Federal Dept.regulates 401k plans?

I’m told a recent regulation states that an employer has 7 business days to forward an employescontribution to the plan manager.Please give the name of the rule and the oversight body.

401k plans are regulated under ERISA. ERISA is administered by the Employee Benefits Security Administration (EBSA), a division of the U.S. Department of Labor (DOL).

Failure to promptly forward contributions constitutes a violation of law, but there may not be consequences. It is really something to first take up with the plan administrator. The link provides some background, but it is really tailored for those in charge, but may give you specific talking points.

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