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Asked 10/6/2010
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How long might it take to recieve my 401k after quitting? It's been almost 3 months since I quit my job. I recieved a packet in the mail to sign off on what I wanted to do with the funds (draw it out). The lady who handles this sent a note stating "please sign and return and I will send it to _______ office so that may do the accounting on it. I'm not sure how long this will take" If she doesn't even know how long it will be, she shouldn't be handling that type of paperwork. I've called the accounting firm and have yet to hear back from them. |
Answer 1/4 - Submitted 10/6/2010
Answer 2/4 - Submitted 10/6/2010
Answer 3/4 - Submitted 10/6/2010
I just recieved a voicemail from the accounting firm. They said it may be NEXT SPRING until I get my distribution. Even then, it may be a partial distribution. I'm already 100% vested in the balance. (They say they have to see if I'm eligible for a 2010 contribution given that I quit at the end of June.) I don't see how its possible for it to take almost a year or at least 3 quarters for MY money to be given to me.
Answer 4/4 - Submitted 10/6/2010
I think someone there is being lazy to processed the paperwork. it took me 3 weeks to take partail. they will give me a tracking number. because it was send by ups. it you take all the funds. you will be paying a penalty for early withdraw plus percentages for taxes. it be better to take partial if you need the funds. this want it save you for penalty charges. the other fund. hold it there in place. they can't force you to withdraw all of it. hold it there until you find another job that has 401k and rollover into that new 401k job. it free of charge for rollover into a new job with 401k.
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