Ex-Employer owes 401k company money.

[jimmag]

What is the name of your state: California

I had a 401k plan through an ex-epmloyer.... I have not contributed to the plan for over 2 years. I Recently inquired about my funds and rolling it over or Cashing it out. The 401k company informed me that my ex-employer owes them money for the plan. And i can not transfer my funds until the money is paid.

Is this true?

I was wondering if anyone could give me some advice, What are my options?

She told me to call the labor board and call the owner of the previous employer to tell him to contact the 401k company. The company I worked for recently went under.

What can i do to get my money?

Any assistance is greatly appreciated!

 

[olgethorpe]

Did you contact the actual fund managers, or the 3rd party administrator. Usually, you can arrange with the fund managers (like American Funds, or whatever) to set up a private IRA and then roll your money into that. If its the 3rd party administrator that's owed money, you can usually work around them.