401k rollover

[cfi]

What is the name of your state? OR

Hi all,

Hey I work for a private company that matches some of my contributions to the plan. I'm told that if I quit, they will only let me rollover what I have contributed to the plan. Their matching funds stay in their plan at a lower rate (passport rate). The plan is called an employee stock ownership plan. I am fully vested 5 plus years of service and have 6 figures + in it.

Can they actually do this? Any help would be appreciated.

Thanks cfi

 

[cbg]

If that's what the plan document says, yes they can. If that's not what the plan docuemnt says, no they can't. You'll have to get a copy of the SPD (they are required by law to provide one on request) and see what it says.