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401k vesting question

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J

jm12168

Guest
What is the name of your state? Virginia
In the passed year I changed jobs. I was not sure what to do with my 401k.
So I left in my previous companies plan. I recieved plan summeries and was 80% vested now after I left the company the summeries have changed to only 40% vested.Is this legal.
Thanks for your help
 


cbg

I'm a Northern Girl
It's possible. The money YOU put in is always 100% vested. But the money your employer put in is vested according to the vesting schedule.

So if half the money in the account was put in by employer match and if that money is no longer vested after you left, that would explain the change in the numbers.
 
J

jm12168

Guest
Ok I don't completely understand.I did'nt think they could change my employer match vesting once it was stated that I was at a certain percentage.I'll just take what I have left and roll it into an IRA.
Thanks for your help.
 

Beth3

Senior Member
If you think there has been an error made in calculating how much you are vested and thus should receive upon separation, contact the Plan Trustee (the investment company who manages the Plan) and ask them to explain it to you.
 
J

jm12168

Guest
Ok thanks I'll try that......Lucy you have some splanning to do.
 

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