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    tfm0309's Avatar
    tfm0309 Posts: 1, Reputation: 1
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    #1

    Nov 30, 2011, 04:52 PM
    Medium size company bankruptcy
    I am concerned that the medium size company which I now work for might declare bankruptcy... I have two questions: If they do declare bankruptcy, can they keep the money I've put into my 401k account ? Second, there are rumors in the company that the company is preventing recent retirees from accessing their money until they are 70.5... These rumors right now are just rumors... but, can they legally do this ? Thanks
    Fr_Chuck's Avatar
    Fr_Chuck Posts: 81,301, Reputation: 7692
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    #2

    Nov 30, 2011, 07:15 PM
    Normally the 401K is not keep by the company but by an investment group
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