401k and former employer

[Anonymous]

I resigned from a company in Maryland several years ago. When I left, I requested paperwork to rollover my 401k. They refused and said I had to wait until the next year. I did not pursue it further and left my money where it was. Recently they sent me paperwork stating that I had to rollover my money by a certain date or they would do it for me. Can they do that? Do I have any recourse if I prefer to leave my money where it is?

[Anonymous]

Yes, they can do it if it is 5,000 or less or if they have terminated their 401(k) plan.

[Anonymous]

Roll it over. It's so easy. You'll be glad once it's done.

[Anonymous]

Vanguard or your current 401k if your company provides one.

[Anonymous]

Call Vanguard. They will help you set up an IRA there, and will send you all the forms you need to roll over. They make it easy.

[Anonymous]

I did mine with Fidelity years ago. Make sure whichever company you go with you say ROLLOVER IRA.

They didn't have to make you wait a year. That was B.S. You have the option when you leave to leave it with them or take it into a rollover IRA.

I would be highly suspicious of whoever told you you couldn't take your money.

[Anonymous]

Thanks. I heard through the grapevine that the company is being sold soon. I guess the owner wants his portion of the invested matching funds.