401(k) problems

[Bronco2246]

What is the name of your state (only U.S. law)? Ohio

Hello,

After 24 years working for my employer, I was laid off on Feb. 6, 2009. At the time of my termination (layoff) I requested that my 401(k) be rolled over. According to the bylaws of my 401(k), I cannot do anything with it until I no longer work for the company.

After numerous Emails I still have not received any paperwork from my employer. My last Email was sent on March 20, 2009 and I have not received a response.

I know that my employer has held up rollovers and retirement payouts to other employees. Sometimes no action is done until a legal threat has been made.

This is my money, not his. I am suffering because of his procrastination. I am still unemployed and if my unemployment runs out, I will need this money to live on.

What options do I have?What is the name of your state (only U.S. law)?

 

[pattytx]

Have you contacted the plan administrator?

 

[Bronco2246]

Yes, the Plan Administrator said they would contact my employer. This just happened. I also informed my ex-employer that I talked to the Plan Administrator. I need to give this action some time, a day or so.

I came on here to see what other options I have. Hopfully, the plan administrator will rattle my ex-employers cage so that he will get me the stuff I need

 

[pattytx]

Yep, let's hold on for a couple of days and see what happens.

 

[Bronco2246]

This is how my ex-employer responded to me. I have edited out names. Funny how he is always apologetic and only responds to me when I initiate contact


"I apologize, I am not putting you off or ignoring you. Remember that usually this closes and reports much later in the year. I have received the closing documents from Plan Administrator and they are being reviewed. I am likewise writing the year-end letter and must prepare and produce all employee documents for distribution. In reviewing the materials from Plan Administrator I have discovered that although your year- end reports are enclosed the distribution forms were NOT. I contacted them immediately yesterday, 04/06, and I am certain they will be in my hands today or tomorrow latest. Meanwhile I will endeavor to complete all the required tasks to do the distribution to all employees by week’s end. Bronco2246, I know you are anxious to get this resolved but please remember this must be done by the numbers and reported correctly to the government. I will not rush through this and have mistakes to fix later. Bear with me.
I will contact you later this week to get the documents to you."


Just to make a point I got my 2007 year end statement in a package dated DECEMBER 1, 2008. I guess all I can do now is wait another 2 weeks and see if my old boss get's anything done. I think contacting Plan Administrator helped. I had to do some detective work to find out the identity of the Plan Administrator. My boss did not give me that information .