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Old 08-20-2003, 03:49 AM
Phil Marti
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Default Re: 401k rollover and former employer

junkmdlb[at]hotmail.com (DLB) writes:

- quote -

> When I became eligible I transfered my former emp
> 401k to my new company 401k. Now the former company "said"
> they kept $40 of my payroll money to do just that when the
> time came, rollover from that 401k to one designated by me.
> I found out that my 401k had a reduction to do the transfer.
> How can I fight this with the former company that "kept" the
> portion of my payroll to do this transfer and then actually
> had money deducted from my 401k instead.


Well, I'd start with a nice letter, enclosing a copy of the
401(k) statement showing that you paid the charge twice. If
that doesn't get you your $40, you might try complaining to
the state labor officials. And then, there's always court.

Phil Marti
Topeka, KS

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Old 08-20-2003, 03:10 AM
Dave Woods, EA
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Posts: n/a
Default Re: 401k rollover and former employer

"DLB" <junkmdlb[at]hotmail.com> wrote:

- quote -

> Long and short. Worked for one company that had my 401k. Was
> a laid off consultant. Got another job, perm, with another
> company. When I became eligible I transfered my former emp
> 401k to my new company 401k. Now the former company "said"
> they kept $40 of my payroll money to do just that when the
> time came, rollover from that 401k to one designated by me.
> I found out that my 401k had a reduction to do the transfer.
> How can I fight this with the former company that "kept" the
> portion of my payroll to do this transfer and then actually
> had money deducted from my 401k instead.


How do you know they weren't supposed to do that? Did you
actually read your summary plan description? I personally
have never heard of such a thing, but I wouldn't be shocked
if there was some sort of transaction fee, or if you weren't
fully vested.

- quote -

> This is criminal!

Spare me the hystrionics. Driving off a bridge, leaving
someone to drown, and serving five more terms in the US
Senate is criminal. You don't even know that they weren't
supposed to do what they did. Find out.

--
David M. Woods, EA
Boston, MA 02109

Postings here are general information only and not to be
relied upon as advice.

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  #-1  
Old 08-19-2003, 02:45 AM
DLB
Guest
 
Posts: n/a
Default 401k rollover and former employer

Long and short. Worked for one company that had my 401k. Was
a laid off consultant. Got another job, perm, with another
company. When I became eligible I transfered my former emp
401k to my new company 401k. Now the former company "said"
they kept $40 of my payroll money to do just that when the
time came, rollover from that 401k to one designated by me.
I found out that my 401k had a reduction to do the transfer.
How can I fight this with the former company that "kept" the
portion of my payroll to do this transfer and then actually
had money deducted from my 401k instead. This is criminal!

<< -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << ------------------------------------------------->
 

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401k, employer, rollover
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