I recently terminated my old Employment Agreement with my employer, and signed a new one... same employer, same job, but a stronger non-compete, etc. Any chance that I can use this as justification to rollover my 401k to a private IRA? (the company 401k stinks). Obviously, the employer isn't much help, as they want to keep all the money in their 401k administrator's plans.
just wanted to subscribe to this thread. 401k SUCKS everywhere now. we gave up on letting rich people play with our retirement and now only trust poor (us) with how it's handled. at least we actually care when things devalue 30% overnight. wall street could give a damn less. and the fund managers.... hah, haven't met one yet that DIDN'T LOOSE THAT SAME 30% or more... so why give them my money ?
anyway, subscribed. good luck :)
ps - just by not spending your money you save 10,20 or 30 percent depending on how terrible your local tax laws are. think about it.
your Human Resources people can give you a definitive answer on that. Was your employment actually TERMINATED? Did you have to fill out new paperwork (like a new W-2)? Did you have to actually be re-hired? If there was no actual interruption in your employment, the answer is *probably* no, you can't.
A call to Fidelity or Schwab or any others might help, too. They probably know the laws, and have an interest in getting your roll-over.
it's your money, i don't see why you can't do whatever the hell you want with it. but that's just my opinion. :icon_mrgreen:
Quote from: Paulcet on March 20, 2010, 09:38:01 PM
A call to Fidelity or Schwab or any others might help, too. They probably know the laws, and have an interest in getting your roll-over.
YUP