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EX - employer withdraws from my 401k

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M

ms_nj_0800

Guest
I have received my statement for 401k from my old job and found out that the ex-employer has withdrawn money from the account. I have contacted the financial institution that manages that 401k and they have said there is nothing they can do, even though all the money in the account is mine, 100% vested and the whole thing.

Is this true? The financial institutions managing the 401k will let the ex-employer into my account and withdraw vested funds?

Then I have contacted the ex-employer's HR department and payroll. They have found out what the problem is but are not doing anything to fix it. I have also written a letter to the plan administrator demanding my money back.

What can I do to get my money back? Is there a particular law that protects me? I assume filing with the department of labor is the last thing I can do, but I am sure it will take a very long time to have it fixed if it goes to DOL.

Please help.
 


ALawyer

Senior Member
A letter from a lawyer would get them to release the money a lot sooner, especially if they fear a class action or bad publicity may follow. And both the employer and plan administrator should be addressed.
 

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