J from Arizona.
My previous employer went out of business, they had a 401k plan through the payroll company Paychex. The owner of the bankrupt company refuses to terminate the plan and paychex has frozen all of the 401k plans because the owner owes money to paychex and will not allow any former employee to rollover or distribute any of the money. I can prove that I do not work for that employer any longer however, paychex refuses to discuss the matter any further with me because the previous owner is the only one authorized to terminate the plan or state that i am no longer an employee of the bankrupt company. The state labor department has been no help either, is there any direct action I can take against this payroll company in order to get my money rolled over into my new employers 401k plan?
My previous employer went out of business, they had a 401k plan through the payroll company Paychex. The owner of the bankrupt company refuses to terminate the plan and paychex has frozen all of the 401k plans because the owner owes money to paychex and will not allow any former employee to rollover or distribute any of the money. I can prove that I do not work for that employer any longer however, paychex refuses to discuss the matter any further with me because the previous owner is the only one authorized to terminate the plan or state that i am no longer an employee of the bankrupt company. The state labor department has been no help either, is there any direct action I can take against this payroll company in order to get my money rolled over into my new employers 401k plan?
