Author Topic: Mustachian People Problems (just for fun)  (Read 1643780 times)

Cyaphas

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Re: Mustachian People Problems (just for fun)
« Reply #2650 on: May 13, 2016, 05:15:37 PM »
I discovered that my company has a cap on Auto withdrawals from my paycheck for Roth's and 401ks it's 25%....


Balls....
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rantk81

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Re: Mustachian People Problems (just for fun)
« Reply #2651 on: May 13, 2016, 05:19:07 PM »
I discovered that my company has a cap on Auto withdrawals from my paycheck for Roth's and 401ks it's 25%....


Balls....

I'm pretty sure that limit is artificially set by your employer.  At my place of employment it used to be 50%, but then they changed it to 60% when the company got acquired by another company.  Talk with HR about it, and see if you can get them to raise the cap!

Dollar Slice

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Re: Mustachian People Problems (just for fun)
« Reply #2652 on: May 14, 2016, 12:38:03 PM »
MPP: The morning after a fun night out with friends, when you have to exactly remember all of your small cash expenditures from the night before to enter into Mint. ("Did I leave a $2 tip? Or $3??")

Also MPP: regretting the wine I drank, not because of a hangover but because it was $7 and I mostly bought it because of peer pressure.
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DCKatie09

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Re: Mustachian People Problems (just for fun)
« Reply #2653 on: May 14, 2016, 01:13:52 PM »
My MPP is that my brother-in-law is on Wheel of Fortune tomorrow night, but we long ago eliminated cable (or any way to watch live tv), and we're too cheap to go out to a sports bar and demand that they show it. Fortunately, some friends who still have real TV came through, and we'll get a nice cheap bit of socializing in too. #mustachianwin

Is your brother-in-law the guy named Jared?  He is hilarious!
That's him! My sister is his "hilarious" wife. :) Apparently they spent a long time thinking of what word he could use to describe her that would surprise Pat.

LeRainDrop

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Re: Mustachian People Problems (just for fun)
« Reply #2654 on: May 14, 2016, 01:50:40 PM »
My MPP is that my brother-in-law is on Wheel of Fortune tomorrow night, but we long ago eliminated cable (or any way to watch live tv), and we're too cheap to go out to a sports bar and demand that they show it. Fortunately, some friends who still have real TV came through, and we'll get a nice cheap bit of socializing in too. #mustachianwin

Is your brother-in-law the guy named Jared?  He is hilarious!
That's him! My sister is his "hilarious" wife. :) Apparently they spent a long time thinking of what word he could use to describe her that would surprise Pat.

Haha, I love it!  It was a great introduction, and he even prompted Pat to respond with funny line!

K-ice

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Re: Mustachian People Problems (just for fun)
« Reply #2655 on: May 14, 2016, 11:30:12 PM »

... Anyhow, the note that came with it was "Just sent this to you for your summer vacations because I was thinking of you. This money is NOT for saving, investing, or paying off any existing purchases. You must spend it."


My mom is the exact same. She literally said she has some money she wants to give me but I won't get it until I decide what to spend it on. It's been a month. I'm still not sure what to ask for.

Pooperman

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Re: Mustachian People Problems (just for fun)
« Reply #2656 on: May 15, 2016, 05:20:08 AM »

... Anyhow, the note that came with it was "Just sent this to you for your summer vacations because I was thinking of you. This money is NOT for saving, investing, or paying off any existing purchases. You must spend it."


My mom is the exact same. She literally said she has some money she wants to give me but I won't get it until I decide what to spend it on. It's been a month. I'm still not sure what to ask for.

Something easily returnable for cash?

tarheeldan

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Re: Mustachian People Problems (just for fun)
« Reply #2657 on: May 15, 2016, 05:47:13 AM »
You down with MPP? Yeah, you know me

afuera

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Re: Mustachian People Problems (just for fun)
« Reply #2658 on: May 16, 2016, 07:19:29 AM »
You down with MPP? Yeah, you know me
+1
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mlejw6

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Re: Mustachian People Problems (just for fun)
« Reply #2659 on: May 16, 2016, 08:09:58 AM »
That's him! My sister is his "hilarious" wife. :) Apparently they spent a long time thinking of what word he could use to describe her that would surprise Pat.

Haha, I love it!  It was a great introduction, and he even prompted Pat to respond with funny line!
That's great! I noticed (back when I had TV to watch....) that all the men on Wheel of Fortune always talked about their "beautiful wife" and all the women talked about their "amazing husband." Every Single One. Always the same qualifier. So glad your BIL did something (a little) different! That show creeps me out.
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Re: Mustachian People Problems (just for fun)
« Reply #2660 on: May 16, 2016, 03:41:48 PM »
That's him! My sister is his "hilarious" wife. :) Apparently they spent a long time thinking of what word he could use to describe her that would surprise Pat.

Haha, I love it!  It was a great introduction, and he even prompted Pat to respond with funny line!
That's great! I noticed (back when I had TV to watch....) that all the men on Wheel of Fortune always talked about their "beautiful wife" and all the women talked about their "amazing husband." Every Single One. Always the same qualifier. So glad your BIL did something (a little) different! That show creeps me out.

My mother gets a kick out of how it seems that all contestants mention that they are married to their spouses. "I'm married to my amazing husband, Billy Bob."  "I'm married to my beautiful wife, Carol Anne."  Who has a current spouse to whom they are NOT married?
Go soak your beans.  You know you keep forgetting.

RetiredAt63

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Re: Mustachian People Problems (just for fun)
« Reply #2661 on: May 17, 2016, 06:15:35 AM »
Maybe they are worried people will think they are common-law?  ;-)

My mother gets a kick out of how it seems that all contestants mention that they are married to their spouses. "I'm married to my amazing husband, Billy Bob."  "I'm married to my beautiful wife, Carol Anne."  Who has a current spouse to whom they are NOT married?
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Re: Mustachian People Problems (just for fun)
« Reply #2662 on: May 17, 2016, 07:28:21 AM »
My husband (who is actively trying to get on WoF) has decided he will describe me as "curly-haired".  I tried to get him to go for "exceptionally intelligent" but no dice.

infogoon

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Re: Mustachian People Problems (just for fun)
« Reply #2663 on: May 17, 2016, 07:32:42 AM »
My mother gets a kick out of how it seems that all contestants mention that they are married to their spouses. "I'm married to my amazing husband, Billy Bob."  "I'm married to my beautiful wife, Carol Anne."  Who has a current spouse to whom they are NOT married?

You don't get married to the unamazing, ugly one.

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Re: Mustachian People Problems (just for fun)
« Reply #2664 on: May 17, 2016, 07:41:10 AM »
My mother gets a kick out of how it seems that all contestants mention that they are married to their spouses. "I'm married to my amazing husband, Billy Bob."  "I'm married to my beautiful wife, Carol Anne."  Who has a current spouse to whom they are NOT married?

You don't get married to the unamazing, ugly one.

Or they are also married to an unamazing ugly spouse but don't want to brag about that. . .

TrMama

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Re: Mustachian People Problems (just for fun)
« Reply #2665 on: May 18, 2016, 11:32:52 AM »
I added another 0 to my total invested savings this week. I really, really want to brag about it to everyone I meet. I had to settle for just showing DH the new balance.

Making Cookies

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Re: Mustachian People Problems (just for fun)
« Reply #2666 on: May 18, 2016, 11:49:50 AM »
He said 'wait till you have kids,' you'll change your mind. I said, 'no, we won't. We'll be in the city. Everything is accessible by public transit, walking, biking, uber, buses, or taxis.' He said just wait till you have a sick kid at 2 am and you can't drive to the hospital in your car. I told him a once-in-a-blue moon occurence does not necessitate the purchase of a car.

I know this one well. We live in London and have not owned a car since moving here.

People always thought I was mad and told me "wait until you have a kid". Now we have a 2 yo daughter and still don't have a car. So people switched to saying "wait until you have TWO kids!". So now my wife is pregnant and the 2nd is due in July and guess what, we're STILL not going to get a car!

People just don't realise that if you organise your life so that you use the (millions of!!) facilities that are within walking distance of home then you don't actually NEED a car at all. We do cycle a lot now but I expect that with two kids that will become more difficult, although we may get a cargo bike at some point. Irrespective, we can walk to most things and take a bus or the tube otherwise. If REALLY desperate we can get a taxi in ten minutes!

The American equivalent of this discussion is that we are supposed to buy something bigger when we start having children. We were chided and lectured about that when baby #1 arrived. Then again right before baby #2 arrived. 16 years later our eldest will likely take his driving test in that very same car which continues to be our favored vehicle.

There have been occasions when a seven seater would have been a welcome vehicle for an outing but in that case we just drive both of our cars to the park/movie/party/whatever. If I was needing a big vehicle for a vacation I'd just rent or borrow something.

Eric222

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Re: Mustachian People Problems (just for fun)
« Reply #2667 on: May 19, 2016, 06:59:12 AM »
He said 'wait till you have kids,' you'll change your mind. I said, 'no, we won't. We'll be in the city. Everything is accessible by public transit, walking, biking, uber, buses, or taxis.' He said just wait till you have a sick kid at 2 am and you can't drive to the hospital in your car. I told him a once-in-a-blue moon occurence does not necessitate the purchase of a car.

I know this one well. We live in London and have not owned a car since moving here.

People always thought I was mad and told me "wait until you have a kid". Now we have a 2 yo daughter and still don't have a car. So people switched to saying "wait until you have TWO kids!". So now my wife is pregnant and the 2nd is due in July and guess what, we're STILL not going to get a car!

People just don't realise that if you organise your life so that you use the (millions of!!) facilities that are within walking distance of home then you don't actually NEED a car at all. We do cycle a lot now but I expect that with two kids that will become more difficult, although we may get a cargo bike at some point. Irrespective, we can walk to most things and take a bus or the tube otherwise. If REALLY desperate we can get a taxi in ten minutes!

The American equivalent of this discussion is that we are supposed to buy something bigger when we start having children. We were chided and lectured about that when baby #1 arrived. Then again right before baby #2 arrived. 16 years later our eldest will likely take his driving test in that very same car which continues to be our favored vehicle.

There have been occasions when a seven seater would have been a welcome vehicle for an outing but in that case we just drive both of our cars to the park/movie/party/whatever. If I was needing a big vehicle for a vacation I'd just rent or borrow something.
When I was contemplating selling my car, my parents - who were otherwise excited that I was changing things to save money - were apoplectic that I'd go without a car while having kids (6 and 4).  They even used the hospital example. My parents just couldn't imagine it, as they'd never lived anywhere that not having a car would have been feasible.  I'm going backwards for the American example.  I live in the city and I don't have a car with two kids.  Something must be wrong with me. 
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Dicey

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Re: Mustachian People Problems (just for fun)
« Reply #2668 on: May 23, 2016, 07:38:53 AM »
I added another 0 to my total invested savings this week. I really, really want to brag about it to everyone I meet. I had to settle for just showing DH the new balance.
...and telling us. Congratulations on your big win!
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riverffashion

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Re: Mustachian People Problems (just for fun)
« Reply #2669 on: May 23, 2016, 02:15:38 PM »
I added another 0 to my total invested savings this week. I really, really want to brag about it to everyone I meet. I had to settle for just showing DH the new balance.

Yes!!!

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Re: Mustachian People Problems (just for fun)
« Reply #2670 on: May 23, 2016, 02:39:44 PM »
I added another 0 to my total invested savings this week. I really, really want to brag about it to everyone I meet. I had to settle for just showing DH the new balance.

For some reason I had a mental block on the word "another".   I must have read this sentence 10 times wondering why the congrats. 
It's not about money, it's about mindset

RysChristensen

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Re: Mustachian People Problems (just for fun)
« Reply #2671 on: May 25, 2016, 05:59:06 PM »
The work minivan is now old enough that I can't buy a replacement seat belt new (the last OEM one in the entire USA is lost in a warehouse somewhere...) unless it's a "universal fit". Thankfully there's ebay and a pick'n'pull type place willing to strip it and ship it across the country.

BTDretire

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Re: Mustachian People Problems (just for fun)
« Reply #2672 on: May 26, 2016, 06:49:53 AM »
I added another 0 to my total invested savings this week. I really, really want to brag about it to everyone I meet. I had to settle for just showing DH the new balance.

For some reason I had a mental block on the word "another".   I must have read this sentence 10 times wondering why the congrats.

$99,999 to $100,000. 5 digits to 6 digits. Added another 0.
                     :-)

Zikoris

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Re: Mustachian People Problems (just for fun)
« Reply #2673 on: May 26, 2016, 06:31:00 PM »
I can't get my Mint "profile completeness" to 100%, because I don't own a car! And I never will, because I don't have a license either!
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LennStar

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Re: Mustachian People Problems (just for fun)
« Reply #2674 on: May 27, 2016, 06:27:52 AM »
I can't get my Mint "profile completeness" to 100%, because I don't own a car! And I never will, because I don't have a license either!
Set one in for either 0.00 or 1.00 if you need.

Normal bookkeeping btw, the "reminder value".

aetherie

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Re: Mustachian People Problems (just for fun)
« Reply #2675 on: May 27, 2016, 07:31:25 AM »
I can't get my Mint "profile completeness" to 100%, because I don't own a car! And I never will, because I don't have a license either!

I can't either, because I don't have any loans. Talk about a MPP, haha. I wish Mint would let you click a button to say "no really, this does not apply to me, so stop asking."

Spiffsome

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Re: Mustachian People Problems (just for fun)
« Reply #2676 on: May 29, 2016, 05:06:42 PM »
I gave my mum some hard numbers about our early retirement plan (FIRE by 42). I'd mentioned it before but not in any concrete way. She warned me not to tell my grandparents since they tend to look down on anyone able-bodied who's not working.

TravelJunkyQC

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Re: Mustachian People Problems (just for fun)
« Reply #2677 on: May 30, 2016, 07:27:59 AM »
I don't know if this counts as a Mustachian People Problem, but... I only rebalance and contribute to my investments every 3 months (if I rebalance in less than 90 days, certain funds will charge me a penalty), so I don't even look at my investments more often than that. Everyone has been talking about the recent uptick in the market and it's making me want to look at my portfolio... even though I know that it makes no difference what so ever.

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Re: Mustachian People Problems (just for fun)
« Reply #2678 on: May 30, 2016, 07:46:30 AM »
I don't know if this counts as a Mustachian People Problem, but... I only rebalance and contribute to my investments every 3 months (if I rebalance in less than 90 days, certain funds will charge me a penalty), so I don't even look at my investments more often than that. Everyone has been talking about the recent uptick in the market and it's making me want to look at my portfolio... even though I know that it makes no difference what so ever.
Why would you want to rebalance so often?

TravelJunkyQC

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Re: Mustachian People Problems (just for fun)
« Reply #2679 on: May 30, 2016, 10:53:35 AM »
I don't know if this counts as a Mustachian People Problem, but... I only rebalance and contribute to my investments every 3 months (if I rebalance in less than 90 days, certain funds will charge me a penalty), so I don't even look at my investments more often than that. Everyone has been talking about the recent uptick in the market and it's making me want to look at my portfolio... even though I know that it makes no difference what so ever.
Why would you want to rebalance so often?
You're right, I didn't explain properly. Every 3 months, I dump a few Ks into one of my accounts (TFSA or RRSP depending on my contribution limits). When doing said dumping, I have to decide how to distribute this money. I call this "rebalancing" although the money already in the accounts rarely gets moved around much, only the new money gets distributed. On occasion, I will move money around when things change a lot, but it isn't every 3 months.

DeepEllumStache

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Re: Mustachian People Problems (just for fun)
« Reply #2680 on: May 31, 2016, 10:17:32 AM »
I don't know if this counts as a Mustachian People Problem, but... I only rebalance and contribute to my investments every 3 months (if I rebalance in less than 90 days, certain funds will charge me a penalty), so I don't even look at my investments more often than that. Everyone has been talking about the recent uptick in the market and it's making me want to look at my portfolio... even though I know that it makes no difference what so ever.
Why would you want to rebalance so often?
You're right, I didn't explain properly. Every 3 months, I dump a few Ks into one of my accounts (TFSA or RRSP depending on my contribution limits). When doing said dumping, I have to decide how to distribute this money. I call this "rebalancing" although the money already in the accounts rarely gets moved around much, only the new money gets distributed. On occasion, I will move money around when things change a lot, but it isn't every 3 months.

I technically "rebalance" by sweeping the company match in my 401K (which was done in company stock and therefore not in lovely and diverse index funds) every few months.
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StartingEarly

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Re: Mustachian People Problems (just for fun)
« Reply #2681 on: May 31, 2016, 02:45:07 PM »
I'm unable to figure out where the extra 15k came from over the past few months.

Bracken_Joy

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Re: Mustachian People Problems (just for fun)
« Reply #2682 on: May 31, 2016, 03:05:00 PM »
I am getting TOO MANY FREE THINGS. My local Buy Nothing Group is too active, and today I "had" to make like 5 stops for free stuff! Curtains, rhubarb, an oregano plant (it's HUGE), an electric dehumidifer, and I gave away garlic.

Whew. Not spending money can be exhausting! Now excuse me while I drink a free Corono and eat some free ribs leftover from my neighbor's BBQ. (My neighbors are the best).
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RWD

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Re: Mustachian People Problems (just for fun)
« Reply #2683 on: May 31, 2016, 03:28:40 PM »
I'm unable to figure out where the extra 15k came from over the past few months.
The stock market has gone up ~6% over the last three months...?

Gerard

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Re: Mustachian People Problems (just for fun)
« Reply #2684 on: May 31, 2016, 09:43:34 PM »
She recommends I use some of it on taxi's instead of bus fare when we are in Montreal, for instance.

What makes this especially funny is that in Montreal the metro  is often faster, cleaner, and more pleasant than a taxi. Maybe you could send her pictures of some public art, and then later tell her you saw it in a subway station?
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Cookie78

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Re: Mustachian People Problems (just for fun)
« Reply #2685 on: June 01, 2016, 09:10:51 AM »
My pension website was just 'updated' this month and I'm no longer able to log in to find out my lump sum value each month for net worth tracking purposes. Now I have to call in on the first of each month to get them to send it to me in the mail weeks later (they currently have a 4 week backlog).

TomTX

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Re: Mustachian People Problems (just for fun)
« Reply #2686 on: June 01, 2016, 09:14:51 AM »
I can't get my Mint "profile completeness" to 100%, because I don't own a car! And I never will, because I don't have a license either!

A Matchbox car is $0.97 at my local Walmart.

My recent MPP: Apparently we're cash hoarders. I'm not sure exactly how it got to that extent, but when we decided to buy a "new" (state surplus) car, I found out they only take cash or cashier's checks. So, before going to take some cash out of the bank, we started collecting from around the house. Old emergency cash stash, the pile from a recent bunch of Craigslist sales... oh, and I still have that envelope from when I sold off my paintball stuff a few years ago... Here' s that cash from the 'junk silver' we sold off...

Whoops. Don't need to go to the bank anymore.
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Cannot Wait!

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Re: Mustachian People Problems (just for fun)
« Reply #2687 on: June 01, 2016, 09:59:31 AM »
My teens know there is no point in asking me to buy them junk or to drive them places that they can bike to - so we hardly talk anymore.
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StartingEarly

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Re: Mustachian People Problems (just for fun)
« Reply #2688 on: June 01, 2016, 09:50:39 PM »
I only have like maybe 75k in invested assets right now and they're broad market. That only accounts for like a third of it, the rest is baffling.

theadvicist

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Re: Mustachian People Problems (just for fun)
« Reply #2689 on: June 02, 2016, 02:50:52 AM »
I only have like maybe 75k in invested assets right now and they're broad market. That only accounts for like a third of it, the rest is baffling.

This must be what normal people are talking about when they say, "I don't know where all my money went this month!". And I'm like, really...?

Except yours is, "I don't know where all my money came from this month!". I'm still kinda, really, but yours is a far preferable problem!

rantk81

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Re: Mustachian People Problems (just for fun)
« Reply #2690 on: June 02, 2016, 08:14:06 AM »
This Mustachian Problem isn't quite "Just for fun" for me... in fact, it makes me a bit angry.

I've been at the same employer for nearly 12 years.  Two years ago, it was acquired by a different company.
In the past, before the acquisition, and up through calendar year 2014), I would front-load my 401k.  The company would still continue to put in the "match" on the rest of my paychecks for the rest of the year (avoiding the need for an end-of-the-year true-up).

For all of 2015 and for part of 2016, I front-loaded the 401k and had it filled by the end of April.  The paystubs and Fidelity's website both reflected the continued "match" contributions.

I noticed some weird transactions on the Fidelity 401k website recently, so I began asking some questions of the benefits people.

I was basically told that:
- They have a lot of accounting irregularities with the 401k and are trying to do what they can to keep it in compliance.
- For year 2015, there was not supposed to be a true-up.  Apparently with the merger, this "feature" was taken away (but without properly communicating this to the employees.)  All of the "matched" contributions that happened throughout year 2015 after I had finished front-loading, are slated to be removed from my 401k account at some point.
- For year 2016 I had already finished front-loading back in March or April.  I think the person I spoke with told me that they re-instated the true-up for 2016, but it is supposed to happen at the end of the calendar year, not gradually throughout the year.  The matched amounts I've already received this year (after the front-loading was complete) will be removed from my 401k account at some point..... and I will presumably be given the true-up at the end of the year.  (I did ask if the true-up would happen if I was separated from the company before the end of the year, and they told me "no" it would not true-up if there is a separation for any reason.)

I'm furious right now.

Edit:  Re-reading this, I'll try to clarify what happened.
1.  [2004-2014]  When I front-loaded my 401k, the match amount would continue to happen throughout the year, even after my own contributions hit the IRS limit.  No need for end of year true-up.  Everything is great.
2. Company was acquired by another company.  For benefit year 2015, they eliminated the true-up provision in the 401k.  They did NOT communicate this to employees.
3. Even though they eliminated the true-up in 2015, they continued to put money into the 401k as a "match" (after I had finished the front-loading of my contributions).  So I thought everything was fine and working as per previous years.  I later found out that this was a "payroll glitch" all along.  They told me they will be taking this money back out of my account at some point.
4.  At the beginning of 2016, I still did not know that the true-up was eliminated, and I had no idea that the continued matching contributions on my paystrub were all "glitches."  So, again I had I front-loaded my contributions.  Same problem.  They also continued to throw in their matching portion for a while, until just recently.
5. I contacted them the other day, and their response is:
- All the matches after my "frontloading" in 2015 were "errors" and will be taken back.
- All the matches after my "frontloading" in 2016 so far were also "errors" and will be taken back (but may or may not be added at the end of year true-up, if I'm still at the company.)

« Last Edit: June 02, 2016, 08:22:22 AM by rantk81 »

rantk81

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Re: Mustachian People Problems (just for fun)
« Reply #2691 on: June 02, 2016, 08:36:00 AM »
I'm kind of thinking about turning this into an "epic FU story" and resigning now (before they take the money out).... so I can roll it over to an IRA before they get the chance.


AlwaysLearningToSave

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Re: Mustachian People Problems (just for fun)
« Reply #2692 on: June 02, 2016, 08:53:28 AM »
. . .
I'm furious right now.
. . .

As you should be.  I would pitch a big fit about it if in fact they did not communicate it to you.  If it had been communicated to you, you would have structured your contributions differently. 

Whenever I hear stories like this, though, I question whether there was no communication or whether the employee just missed the communication.  Mustachians are better than most at reading the fine print but it happens to the best of us from time to time.  How sure are you that it was not communicated to you?  Did you receive any communications directly stating that you would get the match all year if you front-loaded?  I mention these questions just so that you are sure to get your details straight before raising hell about it-- it would not look good for you to make a stink about it only to be presented with documentation showing that you were in fact informed of the changes.  If you were informed and didn't change your behavior, you own that mistake regardless of whatever mistakes the payroll department made. 

merula

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Re: Mustachian People Problems (just for fun)
« Reply #2693 on: June 02, 2016, 09:34:29 AM »
How much money are we talking about? If this happened to me, it would cost me $7-8k, which would not be enough to lead me to quit over it. But I really like my job and any other equivalent job with another company would involve buying a car for a clownish commute or moving, so $7-8k is peanuts.

And even if you pulled it all out and converted to an IRA, they might still come after you. May or may not be successful, but that'd be a headache.

Like AlwaysLearning mentioned, this may have been communicated and you missed it. I've done that. I'd suggest asking very politely for the annoucement and details that were originally sent, so that you can better understand the change. If you get them, then you've got that out of the way without looking foolish. If you don't get them (which would be where I'd put my money), proceed with all sorts of complaints. Even if they come up with it later you have some evidence that you tried in good faith to get more information and they're so scatterbrained they can't even keep track of their own stuff.

Tjat

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Re: Mustachian People Problems (just for fun)
« Reply #2694 on: June 02, 2016, 10:27:59 AM »
This Mustachian Problem isn't quite "Just for fun" for me... in fact, it makes me a bit angry.


I would suggest reaching out to the Department of Labor and see if what they are doing is even legal. If you are vested in your 401k, it sounds fishy that your employer can retroactively reduce their prior years matches. This is money that you've been earning returns on OR what if your account has LOST money? Are they going to then in effect steal from your self-contributions?

https://www.dol.gov/dol/contact/contact-phonecallcenter.htm

rantk81

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Re: Mustachian People Problems (just for fun)
« Reply #2695 on: June 02, 2016, 11:18:28 AM »
I reviewed ALL the documentation on our intranet, about the last 2 years of annual enrollment documents/flyers/emails that were sent out to the employees.  None of the documents make any mention of this change.

dragoncar

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Re: Mustachian People Problems (just for fun)
« Reply #2696 on: June 02, 2016, 12:55:58 PM »
This Mustachian Problem isn't quite "Just for fun" for me... in fact, it makes me a bit angry.


I would suggest reaching out to the Department of Labor and see if what they are doing is even legal. If you are vested in your 401k, it sounds fishy that your employer can retroactively reduce their prior years matches. This is money that you've been earning returns on OR what if your account has LOST money? Are they going to then in effect steal from your self-contributions?

https://www.dol.gov/dol/contact/contact-phonecallcenter.htm

Yeah not to sound all lawyery, but if it's enough money I wouldn't just quit, I'd sue.  Sure, follow all reasonably courses of amicable resolution first... But there would seem to be a number of legal theories under which you could recover the difference (it would be taxable, but it could be potentially increased to account for that).  Sure, lawyers are expensive, but there's the possibility of small claims court too.  This isn't legal advice, btw just my support in you being pissed off

nouveauRiche

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Re: Mustachian People Problems (just for fun)
« Reply #2697 on: June 02, 2016, 04:33:25 PM »
Our MPPs:

1) Met an old friend for drinks & then we were heading to a restaurant in my car.  Friend was appalled that I was driving a 15 year old car and actually told me he would buy me a new car.  He earns a ton (probably more than DH & I do combined) so I didn't mind telling him that we could buy a new car with cash (but choose not to).

2) DH has been getting his hair cut by the same person for about 25 years.  She reduced her hours to the point where it's no longer convenient to use her.  DH went to a couple of other people and was annoyed at having to pay for mediocre haircuts.  So now I have to do it.  The haircuts are still mediocre but at least they're free.

3) We can only discuss our money milestones with each other (and this forum).

4)  My vehicle has a combo CD/cassette player but the CD player broke.  We're too cheap to get it fixed so I'm restricted to cassettes, which is fine with me.  But my cassette recorder is also broken so I can't tape anything new to listen to.

rantk81

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Re: Mustachian People Problems (just for fun)
« Reply #2698 on: June 02, 2016, 04:57:51 PM »
Update:  Crises averted (I think.)  I played a few more rounds of email-tag with the person who works in payroll/benefits.  I think they probably misspoke when they were talking to me on the phone earlier, because there is absolutely a true-up for 2015.  It was a glitch that the "true up" was happening all along, because they meant to do that at the end of the year per their policy.  I don't see how they could ever need to take anything away from me to reconcile this.  As for 2016, it looks like I just have to wait until the end of the year, and I will get the true-up.

Tjat

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Re: Mustachian People Problems (just for fun)
« Reply #2699 on: June 02, 2016, 05:34:57 PM »
Update:  Crises averted (I think.)  I played a few more rounds of email-tag with the person who works in payroll/benefits.  I think they probably misspoke when they were talking to me on the phone earlier, because there is absolutely a true-up for 2015.  It was a glitch that the "true up" was happening all along, because they meant to do that at the end of the year per their policy.  I don't see how they could ever need to take anything away from me to reconcile this.  As for 2016, it looks like I just have to wait until the end of the year, and I will get the true-up.

Good to hear. While it's not ideal from an investment perspective, at least you may get some enjoyment from a lump sum deposit of "free" money.

I find that "level 1" HR support is typically newly hired college grads that only have training guides to go off of when answering questions. I wouldn't have a problem with this if they weren't so cocky with their answers (that are often wrong).