My employer has agreed with our union to open a guaranteed 401K plan. When I checked the plan description it clearly states this is a discretionary plan.
In addition, my biweekly contributions have not been deposited in a timely manner. Since the beginning of January I have contributed $150 ( every 2 weeks). My 401K account shows deposits began on April 28th! Then, that deposit shows $150, the next deposit date of 5/12 shows $450!:confused: To date my employer has not contributed any match.
Is this sporadic depositing of my contributions legal? I'm must be losing earnings.

Secondly, my employer is using a PAI (pension administrator). Will I likely be paying fees to the PAI and the Oppenheimer fund?
I feel I should just close the entire account and maybe open an IRA or a ROTH.
Any feedback would be appreciated.
Fig

The rules for the 401K is that the earnings are to be deposited as soon as they can be separated from the rest of payroll. This is in as little as 5 days. I only have 10 days per my plan to put the funds in.

THe section 508 of the Pension Protection Act of 2006 says that the administrator of the 401K plan is requied to provide a quarterly benefit statement to a participant or beneficiary who has the right to direct the investment of the assets in his or her account.

The failure by the plan sponsor to comply with this quarterly notice requirement can result in a civil action by plan participants to recover from the plan administrator (typically the company) $100.00 per day, per participant.

Here is the DOL website where you can find the compliance regulations for 401K pension plans:

Compliance Assistance By Topic - Retirement Benefits (http://www.dol.gov/compliance/topics/benefits-retirement.htm)

Here is the office branch of the Department of Labor that regulates the compliance with pension regulations.

Employee Benefits Security Administration (EBSA)
200 Constitution Avenue, NW
Room N-5623
Washington, DC 20210
Contact EBSA
Tel: 1-866-444-EBSA (3272)
TTY: 1-877-889-5627
Regional Offices

Shirley

A employee match fund, is great ( when it works) it may be possible they do not know the laws or just want to break them.
This is why of course you have a union, talk to your union rep and file a greivence on this also.