"Phil Seykora" <pseykora[at]gmail.com> wrote in message
news:16e08e7b.0410060848.3ce4ba01[at]posting.google.com...
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Hmmm

Most plans have some basic restrictions about how soon you can get your
money. Most of these restrictions are tied to the participation eligibility
rules.

For example, let's say that your plan allows anyone who will make $5,000 in
the current year to participate in the plan. You worked from Jan through
June at a rate of $24,000 per year - $2,000 per month. You've been gone
since June and it is now the middle of October and you want your pension
money. If they distribute the money to you and then you get rehired during
the same contribution period you would have to return all the money you took
back into the plan otherwise they could be in violation of the plan's
funding requirements, which could disqualify the plan and cause problems for
everyone. This is a bit over simplified but I think it conveys the issue.
This is why many plan administrators will wait a year before turning loose
of the money in your plan.

I was hoping that this is what you'd say when you responded and I could
simply confirm that it really is how these things work. However, since they
have not responded with this information, I have no idea why they won't sign
off on this.

Another poster has suggested you contact the IRS but I'm not sure they will
be able to help you much. While I do think this will come under the ERISA
rules, because no tax liability is involved I'm not sure the IRS would get
involved, or if they did how fast they would move.

If you haven't already done so, you should review your plan document in
detail. If you don't have the plan document, read the plan summary. If you
don't have either, you can ask for them from your old employer. These
documents should contain the information and rules related to the dispersal
of funds. If they won't supply them to you, or if you read them and they
indicate that you are entitled to your money then I'd suggest you contact a
local attorney and pay him to draft a letter to your employer asking for
either a signature or a reason why they won't sign off. It will likely cost
you a few dollars but you'll either get your money or a good reason why you
can't.

Good luck,
Gene E. Utterback, EA



======================================= MODERATOR'S COMMENT:
Please trim the post to which you are responding.

"Gene E. Utterback, EA" <eagent[at]alliancetax.com> wrote in message news:<2sgd94F1kgm50U1[at]uni-berlin.de> ...
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Hi Gene,

Thanks for responding.

And NO, they initially said it would be taken care off and that was
almost 2 months ago. I have not received any response to any of
emails or have received any phone calls from them.

I did contact the CURRENT financial services institution, and they
said that I should contact the IRS and/or the Department of Labor.
They CANNOT release any funds from the account for rollover until the
papers are signed and sent back to them for processing.

I did not want to deal those huge bureaucracy just yet.

Thanks Again,

Phil

"Phil Seykora" <pseykora[at]gmail.com> wrote in message
news:16e08e7b.0410050841.25b64814[at]posting.google.com...
- quote -


- quote -

Gene E. Utterback, EA

Hello,

I need professional/legal advice.

My former employer (Plan Administrator) will not sign the papers
(Provided by the current financial services institution with my former
employer) to release the funds so I can invest the funds with another
financial services institution.

Please advise on how I should proceed.

Thanks in Advance,

Phil