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Asked 10/24/2008

Can current employer rollover 401K to new provider, even portion which was rolled into this account from previous employemen

I rolled an IRA from previous employment into my 401K account of my current employer. They were with Metlife at the time. Then my employer decided to change to The Principal. They did this with all of my money (including the money from my previous employment which was substanitally more than the amount currently given by me and matched by my current employer) without my filling out the rollover form. Is this legal?

 
 
 
 
 
Answers

Answer 1/2 - Submitted 10/25/2008

They did it, it might have been legal. Talk with your hr or ppl in charge of the 401k

 
 

Answer 2/2 - Submitted 10/27/2008

My HR is the one saying it was legal. I'm not so sure it was. I had heard that if my amount (from previous IRA) was $5,000 or more, they could not automatically roll it over without my permission (which I did not give).

 
 
 
 
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