Hi all. Former employee here. I received a vaguely-worded email this morning about a "401(k) adjustment":
CBRE routinely reviews 401(k) accounts to confirm that the amounts participants contributed, and CBRE contributed on their behalf, are accurate and complete.
Based on the results of this review, CBRE has determined that an adjustment is required for your account. No action is needed by you.
I called Fidelity and they didn't know anything or see any pending transactions, called CBRE's benefit services and it routed back to Fidelity. No transactions shown in the plan. Any current employees here know what's up with this?
Smells like someone fucked up
Might come in the next payslip?
Reach out to Stacey Holsinger, she's on the letterhead
It is your 401k true up for 2019 and 2020 if you are commissioned.
Edit: or were commissioned, I left a year ago, but had been pestering them about my match true-up since April of 2020
Not sure if it helps at all, but I left in Q2 2019 and I got my true-up match 11/20/2020
If you left a year ago I'd imagine it will hit this quarter
Update: this morning I am showing a debit to the employer match source. So they overcontributed years ago and clawed it back today.
Learning opportunity: roll over your 401(k) right when you leave a company. I kept it in the CBRE plan because the fees were super low. Not worth it knowing what I do now
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