My wife recently resigned her position at a local bank. She has processed a 401K roll over request to her past employer. The bank VP presented her with a letter stating the bank had over-matched her 401K contributions in error for a period of 4 plus years in the total amount of 4,241.23. The bank claim s a calculation error in percentages used to make up the employer match. The bank now claims a one-time adjustment of $4,241.23 debiting her account before submitting the rollover total amount. Can the bank simply provide an explanation for 4 plus years of errors and debit her account? The banks claim is the match was suppose to be 2% and claim a match of 8% was made in error. In the bank letter they make the statement (my wife) did not catch the error either. Are there any rights she has pursuant to the adjustment and length of time frame here? Are we entitled to the banks explanation to their payroll processing company (ADP) regarding the matter? Sincerely, Mike

mr.yet

request a complete accounting of the time period to see if it matches their claim