The company I was working for sent us a letter stating that their would be a blackout period of 30 days on our 401k retirement plan so that they could change investment providers. Ok at the time of the blackout the provider we were with showed that I had $8,827.08 on my ending balance. Now that we have a new provider they only show that I have $7101.01 in my balance as of today. I just want to know if when you change providers is this something that is against you meaning you lose some of you money because the company want to change providers. I thought I would start with the same $8,827.08, with the new provider as I ended with the other one. I don't understant what happened to over $1,000.00 and shouldn't the old provider had sent me a final statement or something. Please explain if you can how this works.

There should be no cost to you as a participant for the change of provders. I suspect that what happened in those 30 days is that the value of the investments in your account of stocks, mutual funds, etc went down by that $1000.

You have the right to ask them to explain the difference, depending on where the investment was made, it is possible it just lost that much in 30 days.