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    superdude111's Avatar
    superdude111 Posts: 1, Reputation: 1
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    #1

    Mar 10, 2008, 02:12 PM
    Ex-employer will not allow 401K withdrawal
    Hi,

    I quit my job Jan 2008 and my ex-employer says I have to wait one year before I can access my money. Something about a valuation period. Can this be correct? Can I roll it over to a IRA before the year is up?

    Thanks,
    Frank
    ebaines's Avatar
    ebaines Posts: 12,131, Reputation: 1307
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    #2

    Mar 13, 2008, 08:56 AM
    I've never heard of anything like this - it seems to be a provision in your plan. Ask the plan administrator to cite the section in your plan's documents that doesn't allow you to access your money for a year. What is your 401(k) invested in? I'm wondering if perhaps the investment is in some instrument that has restrictions on frequency of trading?

    I should think you could roll the assets to an IRA.
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