DeborahPal Posted May 7, 2020 Report Share Posted May 7, 2020 I left my employer sponsored ERISA plan over 2 years ago and left my annuity balance there. I decided in December of 2019 to roll over my annuity into my 401-k plan at my current place of employment and the check sent to my 401-k was dated /7/2020. I took the balance as of 12/31/18 because the accounts are valued on an annual basis . The valuations take place in April and I was expecting to receive earnings for the plan year 2019. When I called the Fund office today I was told I am not eligible for any investment earning because I had to have an annuity balance on the valuation date of April 2020. I feel I am being robbed a full year of interest and we know that 2019 was a good year for investments. Does this seem legal? Link to comment Share on other sites More sharing options...
Mike Preston Posted May 7, 2020 Report Share Posted May 7, 2020 Are you aware of what the plan year is? If it is 4/1 through 3/31 then your account received earnings through 3/31/2019. Link to comment Share on other sites More sharing options...
david rigby Posted May 7, 2020 Report Share Posted May 7, 2020 In addition, please edit your original post to correct the faulty date. I'm a retirement actuary. Nothing about my comments is intended or should be construed as investment, tax, legal or accounting advice. Occasionally, but not all the time, it might be reasonable to interpret my comments as actuarial or consulting advice. Link to comment Share on other sites More sharing options...
Recommended Posts
Create an account or sign in to comment
You need to be a member in order to leave a comment
Create an account
Sign up for a new account in our community. It's easy!
Register a new accountSign in
Already have an account? Sign in here.
Sign In Now