What would you like to do?
Can I refuse to participate in a profit sharing 401k and forbid any employer contribution under my social security number?
Some companies have what is called "Automatic enrollment." Basically, with in so many days of your hire date they automatically enroll you into the 401k plan and place you in a default investment. You have the option to opt out of the automatic enrollment but, you do not have the option to "forbid" an employer to enroll you. Typically, if you're automatically enrolled and you neglect to opt out, You are not able to withdrawal the funds in the account until you're 59 1/2 years old or terminated. Keep in mind that some companies do automatic enrollment annually and just because you opt out once does not mean that's final. They're required to send you notification in the mail to make you aware of the automatic enrollment, so be sure not to through anything away without reading it.
1 person found this useful
Was this answer useful?
Thanks for the feedback!
Answer From your social, your birth date, and your address. Answer Depends on the position if its for security clearance for example they use al…l information. Same thing with drivers they'll use your drivers license #. All depends on the position.
You would need to immediately inform the police and the social security office. This person can seriously complicate you life. You may end up being liable for debts and ta…xes that are not your fault.
Can you ask a former employer how much an employee received in 401K matching or profit sharing or employer contribution?
I would like to know if by using your social security number can you find your employment history?
You don't have the authority to demand a social security number of a customer. They are within their rights to refuse that information.
That depends on the employer's plan provisions. Most match dollar for dollar up to a certain % (I have seen 2-6% from the employers I have worked with and for in the pas…t). Check your employer's intranet site or call your benefits provider for details on your specific plan.
I think they can cross reference you ssn and name but I am not sure.
Sort of... Employers (generally regarded as highly compensated employees) are often not eligible to participate in the plan until the "non-highly" compensated employees cont…ribute. To encourage the non-highly compensated employees to contribute to the plan, employers (or highly-compensated employees) will offer a match to induce participation. This participation then allows folks with larger incomes to contribute (and obtain tax deductions thereby.)
No, employers are required to check Social Security numbers.
No. It's private information.
Is an employer required to notify an employee of existence or eligibility of a 401k profit sharing plan?
Yes. If I offer a 401K, I must tell all qualified employees about it.
As a means of identification as well as for wage and tax reporting purposes. It may also help determine if you can validly work in that country.
Tell him to suck your 10inch di*k
Not until the 401K money is withdrawn. The question should read, "Are 401k contributions......"
I belive so but it is illegal.
They do in the UK. Employers pay National Insurance contributions -in addition to the contributions deducted from employees pay.