What is the name of your state?California
I resigned my job on August 19, 2005 and have requested to cash out my 401k. According to HR it will take up to six months to process it. Is this true? My 401k is from ING and I have contacted them to verify if this is true. I was told that as soon as they receive the withrawal request it will take about 7 to 10 calendar days and 3 more days if I wanted it to directly deposited in my account. I received the withrawal application on September 1 and on September 2 I went directly to my employer and gave it to the receptionist. I found out that the person who is helping me on my 401k is not in and won't be back not until Sept. 6 because of a long weekend. I was told by HR that as soon as they got my withdrawal request form she will fax it right away to ING. On Friday, September 9, I called ING and asked if they received my withdrawal request and I was told that they haven't received it. I called our HR on Sept. 9 after I spoke with someone in ING and asked if she received my withdrawal request. She said she has it but won't be able to fax it to ING till September 12 because the CEO who needs to sign the request was not in that day. On Monday, September 12, I called ING again and see if they got my request. They said they haven't so I called again my HR department and she told me she'll fax it that afternoon. In fact, she got very annoyed with me and I was told that I shouldn't be calling her every 2 days and asked about it. My reason in calling her is just I wanted to find out what's going on because I needed that money right away because I am moving out of state. That afternoon I got a message from ING and wants me to call them back. I did and was told that the withdrawal form was not signed by the Trustee. I follow up again with my HR and she said with an attitude that it is signed. She asked me if I called ING and I told her that they called me. She asked me ING's phone number and she contacted them. She called me back about an hour later and told me that I had called ING before and requested that I fax the withrawal form myself. I did asked that I faxed it myself because of the urgency and not realizing then that it didn't have the signature required. She told me that I shouldn't be calling ING anymore because it might slow the processing especially when I am talking to different person. She told ING that if ever I called again that they should tell me to call my HR? Is this right? When someone requested to withdraw from they 401k isn't because of financial hardship? I am deep in my debt and this is the only source of income I have and my HR couldn't help me in speeding up the process.
I resigned my job on August 19, 2005 and have requested to cash out my 401k. According to HR it will take up to six months to process it. Is this true? My 401k is from ING and I have contacted them to verify if this is true. I was told that as soon as they receive the withrawal request it will take about 7 to 10 calendar days and 3 more days if I wanted it to directly deposited in my account. I received the withrawal application on September 1 and on September 2 I went directly to my employer and gave it to the receptionist. I found out that the person who is helping me on my 401k is not in and won't be back not until Sept. 6 because of a long weekend. I was told by HR that as soon as they got my withdrawal request form she will fax it right away to ING. On Friday, September 9, I called ING and asked if they received my withdrawal request and I was told that they haven't received it. I called our HR on Sept. 9 after I spoke with someone in ING and asked if she received my withdrawal request. She said she has it but won't be able to fax it to ING till September 12 because the CEO who needs to sign the request was not in that day. On Monday, September 12, I called ING again and see if they got my request. They said they haven't so I called again my HR department and she told me she'll fax it that afternoon. In fact, she got very annoyed with me and I was told that I shouldn't be calling her every 2 days and asked about it. My reason in calling her is just I wanted to find out what's going on because I needed that money right away because I am moving out of state. That afternoon I got a message from ING and wants me to call them back. I did and was told that the withdrawal form was not signed by the Trustee. I follow up again with my HR and she said with an attitude that it is signed. She asked me if I called ING and I told her that they called me. She asked me ING's phone number and she contacted them. She called me back about an hour later and told me that I had called ING before and requested that I fax the withrawal form myself. I did asked that I faxed it myself because of the urgency and not realizing then that it didn't have the signature required. She told me that I shouldn't be calling ING anymore because it might slow the processing especially when I am talking to different person. She told ING that if ever I called again that they should tell me to call my HR? Is this right? When someone requested to withdraw from they 401k isn't because of financial hardship? I am deep in my debt and this is the only source of income I have and my HR couldn't help me in speeding up the process.
