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Posted

HI folks,

Need some help from the experts.

I had two employers last year in 2017 and mistakingly overcontributed around $5200 in employee contributions across two distinct unrelated 401k plans. My second employer originally told me that I could not remove the excess from their unmatched account, so I removed it from my previous employer's 401k.  In doing so, I lost out on an identical match from my old employer.

My current employer now tells me that I may, in fact, be able to remove the excess from my unmatched supplemental retirement plan.

Is there any way to reverse a distribution of excess contributions from my previous employer? The distribution to me occurred about a week ago and I still have not cashed the check. Is this an allowable transaction? If so, I'd like to undo it and take the funds from my current employer's unmatched plan.

Thoughts?

Thanks in advance.

SR

Posted

Not likely, but it couldn't hurt to ask your previous employer.

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