Message Font: Serif | Sans-Serif
 
No. of Recommendations: 0
Hello all,
First post - questions about 401k profit sharing distribution after termination. My employment ended June 4, and today I sent in the paperwork to roll over to an IRA. I was told that I would be receiving another profit sharing distribution in December, and that I should wait until then to roll it over or I'd just have to send rollover paperwork again. I don't mind sending it a second time as much as I mind really being forced to wait till December to roll over because they didn't do a distribution when I left - I want to be done with this employer ASAP.

My common sense opinion is that they should have done that when I left, not dragged it out till the end of the year - what if I wanted to roll the whole thing over to a new employer's 401k?. I don't know where to find the answer to that question - doesn't seem kosher to me though.

Anyone have experience with that? Thanks in advance.....
Print the post  

Announcements

What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
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.