Legal Question in Business Law in Iowa
A company I haven't worked for in over a year contributed money to my old 401k account which I rolled over when I left the company. Can they legally come to me and require me to pay back the money they mistakenly contributed? If so, would I have to repay any change in value made off that initial contribution? What are other possible scenarios that could arise from this situation?
1 Answer from Attorneys
If they mistakenly conveyed something of value to you and have now discovered their error, that does not prevent them from going after it, because it's not your money. They could sue you. Whether there's any change in value they think they're entitled to is something they'd have to prove of course. If the bank erroneously deposited money in your checking account, would you be entitled to keep it?
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