Legal Question in Business Law in Florida
delay in money transfer into 401K
It is taking our company over 5 days to transfer the money withheld from our pay into the 401K account. Is seems like ''sombody'' is enjoying the benefit of our money for this time period. Is this legal?
Asked on 1/21/09, 9:58 am
1 Answer from Attorneys
William Gwaltney
William W. Gwaltney, Attorneys at Law
Re: delay in money transfer into 401K
it depends on your account contract primarily. There will always be a delay in these types of transactions and so long as they are reasonable there is usually no violation.
Answered on 1/21/09, 4:26 pm
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