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Retirement Update

November 6th, 2023 at 11:35 pm

I'm getting a little annoyed at DH's work.  Usually they make the contribution to his retirement fund the day his paycheck comes out or no later than the following Monday, unless their is a bank holiday on the Friday or Monday and then it might be as late as that Wednesday.  But for the last little while it has been a week late.  Which means we missed out on some great days on his fund where he could have earned a lot.

Payroll has been all over the place for the last six months and it is irritating when you have OCD and expect everyone else to maintain their schedules the way they are supposed to and they don't.  Well, he got paid last on the 27th and he gets paid again in 4 days and they still haven't made the retirement contribution yet.  That's ten days.  If it hasn't been made by Wednesday I'm going to have DH ask what is up.  Regardless, retirement has gone up a lot, which is why I am annoyed at the lateness.

$122,455.95 Previous Balance

-___3,061.56 Amount Earned

$125,516.95 New Balance

Of the $3061.56 earned all but $307 of it was in the 401K.  But the IRA is still significantly what it was under before 2021 and the great freefall of most of 2022.  I'm so glad things started to turn around towards the end of the year and this year, although most of his earnings are from contributions, there still has been a 6% amount of interest made.  Nothing like the 17% we earned 2017 through 2019 and 14% in 2020, but so much better than the last couple of years.  I am hoping that 2024 will bring us back up to 8%, but I have no illusions due to war and out of control goverment spending.  Maybe if we invested in all the war companies, but then I would feel ethically icky.

I am thinking about putting most of my Emergency Fund back in Capitol One 360.  The bank failures seem to have stopped for now and I could be earning a lot more interest right now.  I feel very safe with it in the credit union though.  But maybe that is a delusion.

1 Responses to “Retirement Update”

  1. latestart Says:

    When I processed payroll, I always funded on pay day. Even the month I broke my arm. When I left my employer was switching payroll providers and automating the process. I am not sure how that is going.

    Here is the rule: Department of Labor rules require that the employer deposit deferrals to the trust as soon as the employer can; however, in no event can the deposit be later than the 15th business day of the following month. Remember that the rules about the 15th business day isn't a safe harbor for depositing deferrals; rather, that these rules set the maximum deadline.

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