The Motley Fool Discussion Boards

Previous Page

Investing/Strategies / Retirement Investing

URL:  http://boards.fool.com/the-way-i-see-it-i-am-going-to-work-for-a-20702062.aspx

Subject:  Re: Ch-Ch-Changes... Date:  4/29/2004  10:18 AM
Author:  HeftyDude Number:  40753 of 86130

The way I see it, I am going to work for a different company. The plan is not freezing as all the other people that still work for the HR/outsourcing compnay are still using their 401k plan just fine. This is a whole new compnay, and we are merging into their employee pool. So, everything is changing: payroll, 401k, health plans, etc.

I would think that if I am going to work for a different company, that I should have all the options with my 401k that I would have if I quit. But I am being told that all my 401k money has to go to the new plan at the new HR outsourcing company (which will be my new employer).


<snip>
Since your employer is changing payroll companies, they are probably changing providers. When your employer changes providers, typically, the plan "freezes" or "locks down" that way assets can't be pulled out etc. Probably, again I'm guessing, after a period of time things should be back to normal.
<snip>
Copyright 1996-2017 trademark and the "Fool" logo is a trademark of The Motley Fool, Inc. Contact Us