If my former employer deposited the incorrect benefit amount, am I liable to return this money?
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If my former employer deposited the incorrect benefit amount, am I liable to return this money?
My former company mistakenly deposited more money into my account for my retirement payout than I was supposed to receive. I was not aware that this was the incorrect amount because of the changes in the stock market. I was just informed 30 days after the deposit was made to my account that they want the money returned.
Asked on May 1, 2018 under Employment Labor Law, Wisconsin
Answers:
M.D., Member, California and New York Bar / FreeAdvice Contributing Attorney
Answered 6 years ago | Contributor
Yes, you are responsible for paying your former employer back. The fact is that an overpayment that has mistakenly been made is money that has not been earned. To keep it would unjustly enrich you which is something that the courts disfavor. Accordingly, you must return any monies accidentally deposited. And think about it; if you had been accidentally underpaid, then your ex-employer would be responsible to make up any shortfall.
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