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Employer refuses to release 401k funds or information.


Guest wmsgray
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Guest wmsgray

Is there any feasible recourse against an employer which refuses to give summary plan documents, statements, balances, the name of the plan administrator, or any information concerning its 401k plan? Ex-employees are unable to rollover their money. All we have are our pay stubs showing the withdrawals for the 401k plan.

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Guest Hillary P

A plan that is subject to ERISA is required to provide within 30 days some of the information you list (including a summary plan description) upon written request. If you've made your requests(s) in writing -- to the former employer, presumably, since you don't have the name of the plan administrator -- and have been refused or ignored for 30 days, I suggest that you promptly call the nearest office of the Pension and Welfare Benefits Administration of the Dept. of Labor. You can find contact information through their web site (www.dol.gov/dol/pwba). Good luck.

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I agree with Hillary completely but would also like to add that, since the DOL, like most government agencies meant to protect people, is over worked and under staffed, it might behoove you to get as many affected participants together as possible to make your complaint - there is power in numbers. Also, you may want to hire an attorney (no, I'm not one) to represent you - they may know of more ways to be the "squeaky wheel" that gets the attention (you didn’t really want grease, did you?).

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