OSU

The notice was never received until in my email request on December 28th. If it had been received prior to the 30 day Blackout Notice wouldn't it need to mention the liquidation or the fact that self direction is no longer going to be available? My understanding of the notice is to arm the participants with the proper knowledge of the change so one can properly make a decision. Though it wasn't received prior to the blackout I would have thought it would have had language that explained that self direct was no longer an option and your account will be liquidated during the transition. Somit doesn't need to explain that within the notice?

That's true. I know fronm the end of November till December 26th the account picked up $7,100 on the holdings. My concern is if the market continues upward and I can't do anything during the blackout including moving it into my Ira while having to sit idle. My broker said the cost would be around $1,500 to repurchase.

Thank you for reply and suggestion. Here is a layout of the chain of events: 1. 2007-2014 employed and participated in employer 401k. Inside my account had the ability to self direct and would call Broker if I wanted to buy and hold a individual position. 2. 2015 left employment and never moved it to my new employer or an IRA as expenses were relatively low. During my absence the broker or trustee would not make trades as I would only do so by contacting broker. 3. November 21, 2017 the current broker calls and indicates the employer is moving to different provider and broker. He indicates I can "transfer it out in kind by initiating paper through my own broker dealer channels to my IRA." He also sends letter on November 22, 2017 saying the same in cover letter. In addition, he includes distribution paperwork that says it will take place "12/31/2017 or sooner". 4. December 28th 2017, my broker dealer received ACAT paperwork in good order to transfer my holdings out "in kind" to my IRA. As a courtesy, I called the outgoing broker to let him know and he says the holdings were sold the previous day I said who authorized this and he said the name of trustee and the plan had started blackout period I said I was unaware and didn't authorize those trades. He said trustee sent out and had a copy of received mail via certified delivery. I email the trustee for a copy and he did not send certified. He sent a copy on the 28th of a regular envelope with my address along with a copy of blackout notice that's says it started on 12/27/2017. A couple of points and questions: 1. Via email on the 28th of December was first I had seen of the notice contrary to a copy of an envelope with my address postmarked from November. 2. The blackout makes no mention that self directed accounts will no longer be available and no mention that accounts will be liquidated into cash. 3. The new broker sent a letter to me via email on Dec 29th saying "they would not reverse the trades as they heard no communication from me and it would placed into the Balanced Portfolio" 4. How can a trustee instruct a broker to sell all my holdings without discretionary trading in all previous trades the current/former broker always called? So why wouldn't the same protocol be followed this time? 5. If the distribution paperwork says it will take place on 12/31 or sooner, than how is it I have paperwork completed on 12/28 and the account will not move In Kind ? I recognize now there saying blackout started 12/27 but I received no notice. Honestly had I, it wouldn't have matter as it makes no mention that self directed will no longer be available and your holdings will be liquidated. Thanks in advance for any thoughts or suggestions. All I'm asking is the trades be reversed so my transfer "in kind" can be made.

I had a former 401k from a couple years back that held many individual stocks. The trustee failed to send out a blackout notice but the current broker called me saying they were moving plans and I could transfer my account “in kind”. I submitted all the paper work through proper channels on my end as of December 28th. I called the current broker as a courtesy and he said he sold all my positions at the request of the trustee the previous day. My distributon paper work said I had 12/31 or sooner. The trustee made those unauthorized sells without my approval. They claim a blackout notice was sent. I got a copy via email yesterday. Assuming I had received it. It makes no mention that individual positions will be sold into cash or that new provider will not allow individual stocks. I’ve asked them to reverse trades. They say they won’t my Ira is waiting to transfer in kind. It’s several $100,000. What recourse do I have?