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

    May 1, 2012, 06:28 AM
    401k plan administrator said I have to wait until end of year for roll-over
    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?
    ebaines's Avatar
    ebaines Posts: 12,131, Reputation: 1307
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    #2

    May 1, 2012, 08:00 AM
    Quote Originally Posted by scubastevesques View Post
    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?
    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?
    Fr_Chuck's Avatar
    Fr_Chuck Posts: 81,301, Reputation: 7692
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    #3

    May 1, 2012, 08:40 AM
    Yes, in my many plans and years have never heard of this. Have you asked them to provide you written details about this,
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