The Great 401k/profit Sharing Scandal

[Informer]

It seems that ERAC has lied to it's employees again. When the employee survery was completed last time - "the company" listened to it's employees. The employees wanted ERAC to match their contribution in 401K, so ERAC said OK we'll match, but we're going to take your profit sharing and place it in your 401K package. HR told us that profit sharing was completely separate from 401K but it's not. I just contacted Fidelity today after cashing out and rolling over and all that bullshit. Instead of getting 80% of my profit sharing and all of my 401K - I get 80% of a total amount which included a lump sum that I rolled over before I came to ERAC. Essentially I lost 20% of what I originally rolled over in this lump sum. I rolled everything I had into an IRA with Fidelity so that I was issued to penalty, but ERAC wins another one - fucking bastards!!!!! Another way ERAC fucks you over. Beware of the green machine kiddies!!!!

[FailingEnterpriseAdmin]

Originally Posted by Informer

It seems that ERAC has lied to it's employees again. When the employee survery was completed last time - "the company" listened to it's employees. The employees wanted ERAC to match their contribution in 401K, so ERAC said OK we'll match, but we're going to take your profit sharing and place it in your 401K package. HR told us that profit sharing was completely separate from 401K but it's not. I just contacted Fidelity today after cashing out and rolling over and all that bullshit. Instead of getting 80% of my profit sharing and all of my 401K - I get 80% of a total amount which included a lump sum that I rolled over before I came to ERAC. Essentially I lost 20% of what I originally rolled over in this lump sum. I rolled everything I had into an IRA with Fidelity so that I was issued to penalty, but ERAC wins another one - fucking bastards!!!!! Another way ERAC fucks you over. Beware of the green machine kiddies!!!!

Get back to Fidelity on this. There's no way you should lose any of your own money that you rolled into a retirement plan. If you've got your math straight, Fidelity will clear this up.

How much did you get out of profit sharing? I don't think they let you see how much you have accumulated. I plan on quitting and going to get my MBA, but I'd like to know how much I can expect to get after 3 years.

[Dom182]

Just get on the fidelity website. You can find out exactly what you have and how vested you are

[Intern]

Originally Posted by Unregistered

How much did you get out of profit sharing? I don't think they let you see how much you have accumulated. I plan on quitting and going to get my MBA, but I'd like to know how much I can expect to get after 3 years.

Its not much, I know I have worked for Enterprise for about 4 years now and I am around $1,500 of which I get 80% of that if I quit so its really not worth waiting around for. Granted I was working part-time (about 30 hours per week) so it will not be the same as a full-timer.

[Captain Fucking Bleedgreen]

Originally Posted by Intern

Its not much, I know I have worked for Enterprise for about 4 years now and I am around $1,500 of which I get 80% of that if I quit so its really not worth waiting around for. Granted I was working part-time (about 30 hours per week) so it will not be the same as a full-timer.

you get ALL of the money you invested when you quit, it'd be illegal for the company to keep your investment...but whatever portion the company matched the company controls until you're vested.

Originally Posted by Jesus Fucking Christ, Bitch

you get ALL of the money you invested when you quit, it'd be illegal for the company to keep your investment...but whatever portion the company matched the company controls until you're vested.

Remember though it takes 90 day's to get your money, and when you call to get it they question you like an FBI Interrogation!!!!!!


VERITAS et Aequitas

[slave no more]

Originally Posted by Jesus Fucking Christ, Bitch

you get ALL of the money you invested when you quit, it'd be illegal for the company to keep your investment...but whatever portion the company matched the company controls until you're vested.

Holy shit your back. I guess you finally realized that you aren't too good for us :-) Just kidding. I got my money in 90 days and it was pretty easy. The whole amount was sent to my current 401K provider. About the only thing they did right when I left.

[Captain Fucking Bleedgreen]

Originally Posted by slave no more

Holy shit your back. I guess you finally realized that you aren't too good for us :-) Just kidding. I got my money in 90 days and it was pretty easy. The whole amount was sent to my current 401K provider. About the only thing they did right when I left.

well...I still am too good for you slave...but I have to interact with the commoners once in a while so that people don't realize I truly think you're all idiots! =-) KIDDING! having fun? just so busy. I almost wrote, "god damned busy" Jesus Christ I have problems.

[slave no more]

Originally Posted by Jesus Fucking Christ, Bitch

well...I still am too good for you slave...but I have to interact with the commoners once in a while so that people don't realize I truly think you're all idiots! =-) KIDDING! having fun? just so busy. I almost wrote, "god damned busy" Jesus Christ I have problems.

Well you can't exactly use your name in vain so God Damn and Jesus Christ away. Not much on the boards that I can relate to lately. Just a bunch of ????? bashing, depreciation scandal and who fucked who (that will never stop). Oh well, I guess it's back to fat chick porn for me.