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Subject:  Re: Previous employer will not release 401K Date:  1/15/2003  2:37 PM
Author:  JDOyster Number:  15733 of 26309

As the subject implies, previous employer ( even after filing transfer papers ) will not release 401K to another 401K at my new work.

Do they give a reason?

Some plans will only release 401k funds a couple of times per year or whatnot. I've also seen plans where you have to be off the books for a couple of months before they'll let you do a rollout.

Also, depending on the circumstances (e.g. a corporate merger, or a temporary leave of absence, etc), you may still be considered an employee of the company and a rollout may not be an option.

So, without more details, it is impossible to say for sure, but the old employer may be within the terms of their plan. Or not.

Good luck,
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