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I started my new job on April 1, 2019 and at the first meeting with my manager I asked my new manager how I could dis-enroll or un-enroll from the 401K plan rather than be auto-enrolled @ 4%. He didn't know and he would get back to me. Through the entire month of April, I repeated my request several times and received the same response.

In May, I decided to be proactive and I contacted Merrill-Lynch (the administrator of the plan) and the CSR assured me that I would not be enrolled and that no money would be deducted from my paychecks.

Despite all of this my last paycheck showed a deduction of 4% that I was not expecting. So I contacted Merrill-Lynch CSR again and told them that I want to reduce my contribution to zero and to have my contribution refunded.

He mentioned that, since I'm over age 59-1/2, I can withdraw the amount deducted with no tax penalty and get it deposited to my bank account, but I am not sure I can trust that.

Today I called Merrill-Lynch again to check on it and the CSR today told me that he shows a zero balance in my account and he doesn't know where my money went or how I can go about getting my money back.

I'm getting no help from Human Resources at my employer.

Any advice on how I can proceed?

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    Did you check your bank account to see if the money got transferred? Maybe they actually did what you asked if the Merill account was zeroed out. – JohnFx Jun 18 at 0:57
  • A nuclear option would be to contact the labor department who govern employment rules and regulations. If they feel you have a case, they will assign and advocate to you to investigate. – GµårÐïåñ Jun 18 at 1:53
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    Every 401(k) plan I've ever been a part of has a web portal run by the administrator (Fidelity, Voya, etc) where I go in and choose the percentage to be deducted. Merrill-Lynch must have such a site. Try and set it to zero from there. – RonJohn Jun 18 at 6:02
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    Why would anyone opt out ? You're literally getting free money. – xyious Jun 18 at 15:11
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    @xyious There is no mention of an employer match, so no "free money", just redirecting a portion of your own money – yoozer8 Jun 18 at 15:58

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