R
robertjd
Guest
What is the name of your state? Hawaii
My brother died on August 19 and I am the beneficiary of his T Rowe Price 401K. I called several times to find out the status of this thing in late September. T Rowe Price put the account in my name and SS# on Oct 2 under his plan and did not notify me until Oct 7. I questioned them about this tactic thru e-mail and was told that was "policy". I copied ERISA DoL, Enforcement SEC, and his company benefits people on the e-mail. From August to Oct the 401K dropped like a rock then dropped more in the 2 days I knew about it. When I found out I now had a 401K, I called T Rowe Price and transfered the funds into Summit Cash Reserve they suggested and that I know nothing about. All this smells bad to me. Was it legal? Do I have the right to contact all his company fellow employees and inform them what could happen? Theoretically, this 401K could have had a zero balance if I waited longer.
My brother died on August 19 and I am the beneficiary of his T Rowe Price 401K. I called several times to find out the status of this thing in late September. T Rowe Price put the account in my name and SS# on Oct 2 under his plan and did not notify me until Oct 7. I questioned them about this tactic thru e-mail and was told that was "policy". I copied ERISA DoL, Enforcement SEC, and his company benefits people on the e-mail. From August to Oct the 401K dropped like a rock then dropped more in the 2 days I knew about it. When I found out I now had a 401K, I called T Rowe Price and transfered the funds into Summit Cash Reserve they suggested and that I know nothing about. All this smells bad to me. Was it legal? Do I have the right to contact all his company fellow employees and inform them what could happen? Theoretically, this 401K could have had a zero balance if I waited longer.