IRA Rollover

Posts Tagged ‘streaming’

Question: My old employer won’t cooperate in helping me rollover my 401K?

I was laid off from my employer about 4 years ago and was given forms to rollover my existing 401K plan. At the time the plan was doing well so I elected not to roll it over. During this year’s tax season I reviewed my plan and found it was not doing as well as my IRA so I made a decision to roll over the 401K into my IRA. My 401K fund manager said I needed to get a new form signed by my previous employer in order to roll it over. I contacted the person responsible at my previous employer to assist me with this but after various emails and voice mails I’ve gotten no response. What can I do? Can the US Dept. of Labor help?

Thanks…

-D

Answer: I would send a formal letter, to the person at your previous employer, copying the 401(k) provider. Send it certified mail. You want to speak very clearly in no uncertain terms that you wish to roll your 401(k) as allowed by ERISA. Companies do not want to violate this! Follow up with a phone call. Good luck!

Roy Wasson Certified Financial Planner ™