Accounting, Payroll & Pension Issues/Overpayment of Employer Contribution

Advertisement


Question
My previous employer from several years ago has notified me that they overpaid the employer portion of retirement plan.  They want me to reimburse them for this overpayment.  Am I legally obligated to repay?

Answer
I believe you are required to repay. If you don't they can take you to court. In previous cases the courts have ruled on the side of the employer.

However, before you repay make certain you understand what the error is. By all means you are entitled for details so you can verify that an error was made.

Accounting, Payroll & Pension Issues

All Answers


Answers by Expert:


Ask Experts

Volunteer


Allen

Expertise

Pension questions ONLY. Pension, profit sharing, and 401(k) plan design, installation, administration and actuarial services; rollovers to Individual Retirement Accounts; taxation of retirement plan distributions

Experience

Over 35years experience in the pension field

Organizations
Various actuarial organizations

Education/Credentials
MBA and various professional certifications

©2012 About.com, a part of The New York Times Company. All rights reserved.