My previous employer did not deposit 401k funds that were taken out of my paycheck over a 5 month period. I have left the company and I am fighting at get that money paid, with the help of the EBSA. They have not responded to any requests for payment as yet but I am being charged outrageous plan fees to keep to account open (approximately $80/month). I am owed over $1500 in misappropriated funds. Is there any way to avoid paying these fees while the process plays out?

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    Your employer uses a fund custodian that charges $960/yr regardless of the balance? That's what mine charges on $5M . – JTP - Apologise to Monica Feb 21 '16 at 0:04
  • I wonder if you could open a rollover account (no monthly fees), and deposit the money there if/when they pay up? – Rocky Feb 21 '16 at 0:21
  • When I called the servicer (paychex) to complain I was told they can debit my account for any charges/ incurred by the plan. I'm guessing I'm the only personal left on the plan and am incurring all of the fees. I checked the cost of fees from early last year and they were about $5/ month. – user39056 Feb 21 '16 at 0:25
  • I had planned to rollover the money into another but I was told I still have to keep the account open for them to deposit the "missing" funds. – user39056 Feb 21 '16 at 0:27
  • If you're already pursuing them for failing to honor their legal obligations, you may as well try to recoup these fees as well through whatever process you're using. In other words, you may ultimately have to sue them, but it sounds like you might have to do that anyway. – BrenBarn Feb 21 '16 at 18:39

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