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DeborahPal

Annuity Distribution Rollover from Break in Service

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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?

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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.

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In addition, please edit your original post to correct the faulty date.

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