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401K

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C

clexplorer

Guest
Back at the end of November, My husband quit his job for a better one(with two weeks notice,of course). Within one month, we were sent the 401k plan form stating we could roll over or take the funds out. We sent it back to plan administrator stating we wanted to take the funds. Waited a month, no reply....Called 401k company letting them know our wishes... Was sent out another form to fill out(we Did) . sent it back to plan administator... Waited 4 another month for a reply... NONE was givin..Called plan administor and he said he would get back to us. Never did... Since then my husband has tried to call and talk to him on several occasions and once he gives his name, he is told plan adminstor is in a meeting. (plan administrator is his boss, right) What would be his reason 4 advoiding us. My husband left on GOOD terms and everything... I would like to know what our next option would be... Thanks
P.S. It's not like he had any money invested in it... It was all our doing.
 


M

msattorney

Guest
Send a certified letter to the plan administrator stating that you have asked for your money several times and it has yet to be paid out. Then inform them that you will be reporting them to the state department of employment. I am not sure what the exact time period is that the funds need to be returned by, but an employer can be subject to large fines if they do not comply within the time period. If this doesn't bring results, get a lawyer to write a letter to them for you.
 

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