I work for a government contractor in the US where the gov provides health and welfare at around $5 per hour for standard 40 hour work weeks (they don't pay it out for OT). I have outside health insurance through Tricare and have provided that coverage info to my employer so all funds are paid to the 401k.
I've worked for this company for 11 months and according to my pay stubs have put $7,800 towards the health and welfare 401k. My 401k is through principal financial and only has one contribution for $598.07. when contacting the plan administrator, they will not tell me if there are pending deposits or how much they are sitting on. There is no vesting period if that matters. To make matters worse, other employees are missing all funds since mid 2018, around 50-60k yet their accounts show balances in the hundreds.
Some employees filed a case with the department of labor about 8 months ago and have only been told that their case is being investigated and they won't discuss details yet.
My question is, would it be worth while getting a lawyer for a class action suit or just let DOL do it's thing? There are approximately 250 impacted employees with no access to their 401k money or even knowledge of how much they have or where it is. If getting a lawyer would be the best option, anyone know some good national erisa lawyers? I'm based in Idaho with many of the impacted employees, the plan is Michigan based.
Thanks for the help people of reddit
Submitted February 03, 2023 at 10:21PM by 907Alaskan https://ift.tt/TfQs9op
