Former employer releasing 401k

[dcrown0301]

What is the name of your state? Texas

I was laid off on Sept. 6, is there a time limit for my former employer to give me the paperwork to roll my 401k over to another plan? So far, they have refused to provide this. Thanks.

 

[Beth3]

The time limit must be specified in the employer's 401(k) Plan Document. Some Plans allow for a distribution at any time following a separation; others only allow this at specific time periods during the year.

Have you asked your employer why they haven't sent you the distribution paperwork and when you might expect it?

 

[dcrown0301]

Yes, I requested the documents from the payroll department and was told they did not lay me off so they won't release the 401k account. They stopped paying a few of us in August. The local labor board here has ruled that 9/6 is the formal "date of termination" based on some emails from the company stating they have no funds to make payroll. The company still refuses to hand over the paperwork and won't respond to any emails on the subject. I imagine the Texas Workforce Commission will force them to provide the documents since they have already ruled in my favor. I was just curious if there is a legal time limit for them to do so. Thanks.

 

[Beth3]

I doubt the Texas Workforce Commission has anything to do with this. I'm not sure whether your date of termination is still in dispute but in any event, the agency to contact regarding your 401(k) is the federal Department of Labor. They have jurisdiction over qualified employer sponsored benefit plans.

www.dol.gov.

 

[dcrown0301]

Thanks! I appreciate the advice!