One of my goals for this year is to max out my 401k at work. $18000. That’s a huge amount of money to me. So, after fully funding my IRA I turned my focus to my 401k contribution. I figured out how many more paychecks I was going to be receiving for the year. Then I calculated how much money I would need to contribute each paycheck in order to max it out for the year. $764.40 was the scary total. Scary, but doable. At work I printed out the 401k contribution form and wrote in the amount and gave it to HR.
Friday was payday. When I woke up that day I excitedly went to the computer and logged in to my bank account. Shock hit immediately. $414.76 had been deposited into my account. I normally take home about double that after my 401k contribution. Excuse the language, but WHAT THE FUCK!! I didn’t miss any days, so there was no reason it should by that tiny. My only thought was that the 401k contribution got messed up somehow. I couldn’t wait to get my hands on my paystub on Saturday when it came in the mail. $414 is an extremely small amount, but honestly, I’ll be just fine until the next payday. I normally put everything on my credit cards to get the points, then pay those off every other Friday. This Friday though, I was only able to partially pay one of my credit cards off. Not a big deal. If I can’t pay it off with the next paycheck I’ll just transfer some funds from my savings account. I’m not paying interest on my credit cards!!
I work overnights, so I sleep until late afternoon. Mail arrives at the Frugal Turtle household in the morning. So, when I woke up on Saturday (today) I pretty much bolted for the mailbox, grabbed the paystub out of there, and ripped it open to see what went wrong. I looked at the deductions and sure enough, there was a 401k flat amount deducted along with my original 401k % deduction. I didn’t even know that was possible! How could HR forget to stop the percentage deduction?? Before I had turned in my contribution change form, I had some questions so I had sent them an e-mail explaining my plan to max out my 401k for the year, so they should have known I didn’t want the double deduction.
So here I sit. I’ve already calculated the new amount that should be deducted from my 401k in order to max it out. Unfortunately it’s Saturday and there is no one from HR at work. I’ll have to wait until Sunday night when I work next to write them an e-mail and get this mess fixed. This is going to consume my thoughts until I get this straightened out. *Sigh.*