Left my previous employer in February & the 401K plan administrator said they can't release/roll-over my 401K into my new employers plan until the end of the year. Is this correct for some plans?

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Originally Posted by scubastevesques

Left my previous employer in February & the 401K plan administrator said they can't release/roll-over my 401K into my new employers plan until the end of the year. Is this correct for some plans?

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I've never heard of such a restriction. Normally when you request a rollover it takes 2 - 3 weeks at most. Have you asked why the delay? Could it be that your ex-employer provides matching funds at the end of the year, so they restrict rollovers until the matching funds are included?

Yes, in my many plans and years have never heard of this. Have you asked them to provide you written details about this,