My former employer sent me a letter stating that due to an administrative error they contributed too much to my 401k and now want a check for the difference, am I obligated to pay this?
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My former employer sent me a letter stating that due to an administrative error they contributed too much to my 401k and now want a check for the difference, am I obligated to pay this?
It has been over 3 year since I have worked for them
Asked on August 15, 2016 under Employment Labor Law, Connecticut
Answers:
SJZ, Member, New York Bar / FreeAdvice Contributing Attorney
Answered 7 years ago | Contributor
Yes, if actually did pay more than you were entitled to under the terms of the 401k and your employer's contribution thereto, then you have to repay: legally, an administrative or mathematical or accounting error does not entitle the person receiving too much to keep the money, the same way as if they had made an error against you and contributed too little, you could require them to pay the balance of what they should have paid. By all mean, verify (e.g. check their math, etc.) how much should have been paid; but if they paid too much, you do need to repay them.
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