My employer has yet to sign the release paper for my 401K after 2 attempts. I have called them and she told me she has 90 days to sign the paper.....that was 5 months ago. Is there someone I can contact to get more info besides a lawyer. I was told the Labor Department but unsure. Thanks in advance!
2006-08-09 14:44:02 · 5 answers · asked by Dreamlander 5 in Business & Finance ➔ Careers & Employment
I have been in close contact with the Investment company and they cannot do anything without the Employers signature. They sent me the packet twice.....
2006-08-09 14:53:23 · update #1
Send another Certified letter, return receipt requested, from the Post Office.
In the letter, request both your distribution check and a copy of the plan document. That always pisses them off, because it is huge to copy.
After your signature, be sure to type
cc: DOL.
Be sure to enclose a printout of your sent e-mail to the DOL (copy yourself on the email to the DOL).
Write an e-mail to the DOL at www.dol.gov. See the link below for the exact Website. There is a link for filing claims, as well as contact us. Explain to the DOL in the e-mail that the Plan Administrator is not providing a timely distribution of your payable retirement funds. Since the investment firm is not responsible fully for the withdrawal, and has told you the employer must sign off on it, then the employer has retained Plan Administrator fiduciary responsibility and liability.
Good luck.
2006-08-09 15:51:56 · answer #1 · answered by Anonymous · 1⤊ 0⤋
You should call the investment company who is holding your 401K. You're employer doesn't hold it, they simply withdraw the amount you've elected to be put into the 401K.
You should have a contact for investment company, call them.
2006-08-09 14:50:59 · answer #2 · answered by DEATH 7 · 0⤊ 0⤋
That doesn't sound legal at all. It's your money not theirs. Contact the company that you invest your 401k into. Do a seach for 401k legal on Google.
2006-08-09 14:52:38 · answer #3 · answered by Anonymous · 0⤊ 0⤋
it rather is not any longer uncommon for agencies to have this requirement. i've got worked for a pair. Is it honest? in line with risk no longer. Is it criminal? If it wasn't, why do such extremely some agencies have this form of coverage? does not somebody have sued and had it declared unlawful via now? A lawsuit will value you extra beneficial than the adventure. the proper concern to do is to flow on.
2016-12-14 03:34:37 · answer #4 · answered by creasong 4 · 0⤊ 0⤋
Send them a certified letter requesting the check. Failure to comply will result in your contacting an attorney.
2006-08-09 14:50:02 · answer #5 · answered by tw0cl0n3m3 6 · 0⤊ 0⤋