How long can a company hold your 403 (b) and profit sharing money after you have been terminated from you job?

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How long can a company hold your 403 (b) and profit sharing money after you have been terminated from you job?

Have been trying to receive my money 8 months.

Asked on August 1, 2011 West Virginia

Answers:

MD, Member, California Bar / FreeAdvice Contributing Attorney

Answered 9 years ago | Contributor

Normally these monies are rolled over into another account you have if you have that option or you can kep it going in the account without having to take it out. If you are trying to cash out, it should be made available to you immediately. If you are having trouble getting the money out, do a few things. First, put your request in writing to your former employer's peronnel department. Second, you need to contact your state's labor department and third, you can contact the profit sharing plan contact and immediately request the payout.


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