Message Font: Serif | Sans-Serif
No. of Recommendations: 0
I had a pretty bad break-up with my employer, and now I'm unemployed.

I would like to get my money out of their 401(k) plan ASAP. Besides, the bad blood, they charge 50 basis points per quater for "Management fees" and a bunch of other stuff I do not like about the plan.(i.e. AIC Charges are through the roof)

I recieved this from them recently: "....401(k) plan distributions will be processed after this year's matching contribution has been made (approximately 2003). You will be notified at this time and you will then be able to transfer funds."

Can I REFUSE the matching, and make them transfer funds sooner? Their 50 basis points pretty much wipe out any matching anyway.

I would sooner have them roll it into an IRA so I can watch my own money, then to let them hold onto it.

Any thoughts or ideas would be appreciated.


Print the post  


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.