Withdraw 401k while acquisition

[Kris Alya]

Hi,
My Company was acquired and the acquiring Organization which is my current company has provided a new 401k Plan from different provider. I want to withdraw the 401k, can I do it  (or) should I mandatory rollover to the new 401k Provider

[WCC]

17 minutes ago, Kris Alya said:

can I do it 

Depends on how the acquisition was structured. Your employer should have provided you a notice of what you can and cannot do. 

17 minutes ago, Kris Alya said:

should I mandatory rollover to the new 401k Provider

Also depends on how the acquisition was structured. 

 

You may want to request a copy of the summary plan description (SPD) which will tell you if you are eligible for an in-service distribution (e.g. based on age 59 1/2). If you are eligible for a distribution (because of age or details of the acquisition), you should seek the advice of a professional financial advisor, no one on this board can tell you if it is in your best interest to take a distribution. There are a lot of details that go into that decision.