M
mimiyao
Guest
What is the name of your state? Virginia
I transfered money from funds to the general account (with fixed annual return) in my 401k plan online. During the transfer process, the site did not inform me that there is transfer restrictions (you can only move money into or out from the general account once a year. When you move out the money, you can only withdraw 20% each time).
When I found out, it was a week later. I called them, they said there is a link under the general account, providing a provision on the subject.
My question is: Is that by law that they just built in this notification to alert people about the transfer limitation during their transaction?
If you go to online banking or trading sites, they usually will provide pop up window, listing the terms and conditions, before you process to the next step.
Please advise. Thanks!!
I transfered money from funds to the general account (with fixed annual return) in my 401k plan online. During the transfer process, the site did not inform me that there is transfer restrictions (you can only move money into or out from the general account once a year. When you move out the money, you can only withdraw 20% each time).
When I found out, it was a week later. I called them, they said there is a link under the general account, providing a provision on the subject.
My question is: Is that by law that they just built in this notification to alert people about the transfer limitation during their transaction?
If you go to online banking or trading sites, they usually will provide pop up window, listing the terms and conditions, before you process to the next step.
Please advise. Thanks!!