My employer sponsored 401k plan is coming in 25k (50%) higher than the online balance

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Kroth
Kroth Member ✭✭
edited July 2022 in Investing (Windows)
I have an employer sponsored 401k plan that is showing up in quicken as worth 75k, but the real balance is ~50k. I am unsure how to reconcile/update. I have clicked "reset" and that didn't work. The balance was accurate until a week ago, then all of a sudden a huge jump. Any help appreciated!

Answers

  • Quicken Jasmine
    Quicken Jasmine Moderator mod
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    Hello @Kroth

    Thank you for contacting the Quicken Community, though I do apologize that you are experiencing this issue with an incorrect balance for your 401k account. 

    What financial institution is this account with?

    First, I suggest creating a test file and adding the 401k account to see if it produces the same error message. It is recommended to save a backup before proceeding with troubleshooting steps in the event that you would like to return to your original starting position. Below are instructions on how to create a test file:
    1. Choose File menu > New Quicken File.

    Advanced Data File Troubleshooting to Correct Problems With Quicken for Windows

    1. Select New Quicken File.

    Advanced Data File Troubleshooting to Correct Problems With Quicken for Windows

    1. Click OK.
    2. In the File name field, enter the name of the new file, then click Save. Use a name like "Test File" to tell it apart from your main file. 

    Advanced Data File Troubleshooting to Correct Problems With Quicken for Windows
    Don't use any of these characters: * ? < > | " : \ / (asterisk, question mark, left and right-angle bracket, pipe, straight quotation marks, colon, BACKSLASH, FORWARD SLASH). Also, don't add the .qdf extension; Quicken does that for you.

    1. Sign in with your Quicken ID. If you are prompted to create a Quicken ID but already have one, click Sign In under the Create Account prompt. 

    Advanced Data File Troubleshooting to Correct Problems With Quicken for Windows

    1. Select to not use Mobile.
    2. Click Add Account to start adding accounts to the new file.

    After adding accounts, see if you are experiencing the same problems in this test file. 


    Please let me know how this goes, I look forward to hearing your response. 

    -Quicken Jasmine

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  • Kroth
    Kroth Member ✭✭
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    @quicken_jasmine> @"Quicken Jasmine" said:
    > Hello @Kroth, 
    >
    > Thank you for contacting the Quicken Community, though I do apologize that you are experiencing this issue with an incorrect balance for your 401k account. 
    >
    > What financial institution is this account with?
    >
    > First, I suggest creating a test file and adding the 401k account to see if it produces the same error message. It is recommended to save a backup before proceeding with troubleshooting steps in the event that you would like to return to your original starting position. Below are instructions on how to create a test file:* Choose File menu > New Quicken File.
    >
    >
    >
    >
    > * Select New Quicken File.
    >
    >
    >
    > * Click OK.
    > * In the File name field, enter the name of the new file, then click Save. Use a name like "Test File" to tell it apart from your main file. 
    >
    >
    >
    > Don't use any of these characters: * ? < > | " : \ / (asterisk, question mark, left and right-angle bracket, pipe, straight quotation marks, colon, BACKSLASH, FORWARD SLASH). Also, don't add the .qdf extension; Quicken does that for you.
    >
    > * Sign in with your Quicken ID. If you are prompted to create a Quicken ID but already have one, click Sign In under the Create Account prompt. 
    >
    >
    >
    > * Select to not use Mobile.
    > * Click Add Account to start adding accounts to the new file.
    >
    > After adding accounts, see if you are experiencing the same problems in this test file. 
    >
    > Please let me know how this goes, I look forward to hearing your response. 

    I am using Vanguard


    I have created a test file, and the test file brings in the retirement account correctly. Do you suggest I then just delete the account and bring it back in altogether?
  • Quicken Jasmine
    Quicken Jasmine Moderator mod
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    Hello @Kroth

    Thank you for attempting the test file, I am glad to hear that the account balance was correct in there. 

    Yes, next I suggest deactivating and reactivating your 401k account (this will include any other accounts that you also have with that financial institution). You may follow this link for more information regarding deactivating and reactivating your online banking services. Please remember, that it is wise to save a backup before proceeding with troubleshooting steps (just in case). 

    Let me know how it goes!

    -Quicken Jasmine

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  • Kroth
    Kroth Member ✭✭
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    Hi Jasmine - deactivating and reactivating did not work. However, deleting it altogether and readding it did.
  • Quicken Jasmine
    Quicken Jasmine Moderator mod
    Options
    Hello @Kroth

    Thank you for coming back to update us. 

    I am happy to hear that you were able to resolve the issue by completing deleting the account and then re-adding it.

    Please do not hesitate to reach out with any further questions or concerns!

    -Quicken Jasmine

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This discussion has been closed.