My wife's employer, a corporation that owns many hospitals, is taking its sweet time transferring her 403b deductions into the account at Fidelity. They claim the have "up to 1 year" to make this transfer <jaw drop!!>, which is false. There are rules with the federal Dept of Labor on how long they have, varying from 7 to 15 business days.....though that still seems ridiculous, since every previous retirement account we've had managed to transfer the funds in 1 business day or less.
Does anyone have experience with this? Advice on how to remedy the situation? Why the hell would any payroll deduction take this long, other than for padding the employer's own cash flow issues?
The HR and Accounting departments have been consistently defensive, unhelpful, and incompetent in every stage of her employment so far. We do NOT expect their willing or skillful help with this. We need a method to persuade a gorilla to amend its behavior, while keeping her job with said gorilla.
