Message Font: Serif | Sans-Serif
No. of Recommendations: 0
She was informed by the new administrator of the 401k plan that as long as she was working for this company, she couldn't rollover her 401k. I don't know where to find the answer, as to whether she can rollover this plan or not!

No, she will not be able to rollover the 401k into an IRA as long as she is still employed at the firm.

some money that has been collected to be put into her plan has not been deposited.

This is an even bigger issue. Your employer is required to have your payroll deposits into the 401k plan as soon as administratively possible, but no later than the 15th of the month after the month in which the payroll deduction was made. The U.S. Department of labor has sued more than one employer for not doing so. To pursue, contact the U.S. Department of Labor's Office of Participant Assistance and Communications at 202-219-8776.

Rick Meigs
Print the post  


When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.