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Asked 9/13/2010

My husband has a 401k plan from a former employer that has $50k in it. He was told he needs to get the money out.

He was told on Friday that he needs to make a decision Monday (today) how to get his money out of their plan. He was not sent any paperwork in the mail. The told him they didn't realize he still had money in their plan.
Are there guidelines for how much time he has to do this?
Does the company need to send him something in writing?
Under what circumstances can they force him to take this money out? He is only 46 years old.
Thanks

 
 
 
 
 
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