The Motley Fool Discussion Boards

Previous Page

Investing/Strategies / Retirement Investing

URL:  http://boards.fool.com/untangling-hung-401k-14160927.aspx

Subject:  Untangling 'Hung' 401K Date:  1/20/2001  10:03 PM
Author:  balifool Number:  27353 of 75340

I, as well as other employees, was a participant in a company 401K until the company closed September 1st. Unfortunately, the company directors neglected to notify the 401K plan of the company's closure, and now the 401K administrator is in no hurry to sort out the mess, since this effectively maintains all accounts in their present location.

There was a termination of business filed with the SEC, but evidently this does not meet the 'notification' requirement of the plan. Of course, no additional funds have been added from any employee paycheck, since there are no further paychecks.

I have contacted the 401K Plan and the IRS, without any resolution. I have now been referred to the Department of Labor. Any suggestions? I am frankly more than a little irritated that no one wants to release my money to a self-directed plan.
Copyright 1996-2014 trademark and the "Fool" logo is a trademark of The Motley Fool, Inc. Contact Us