Refusal to give back 401K till end of the year

[zeek_clm]

California. I was terminated at the beginning of the year with a mid size company and was told in January 2010 that I could not pull out my 401K until the end of the year. The other day they told me I could not pull it out until March 2011. They are also saying I cannot pull out any funds (even my portion) at the end of this quarter. Is this allowed?

 

[swalsh411]

What do you mean by "pull out"? What are you trying to do with the money and what does the plan document say about withdrawals?

 

[cbg]

swalsh's last question is really the only one that matters. Not all plans allow for immediate distribution. If the plan document says that this is allowed, then it is. If the plan document says this isn't allowed, then it isn't.

The plan document rules.

 

[zeek_clm]

Thanks it looks the plan will rule on this one.

 

[cbg]

Well, yeah. The plan rules on every one. That's kind of the point....