If I was let go from my job and money left in my 401K plan, how do I go about getting this money out?

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If I was let go from my job and money left in my 401K plan, how do I go about getting this money out?

I thought my ex-employer would have to send me information on what I want to do with the money left in the retirement plan I had with them. Is this correct or am I wrong about this?

Asked on December 12, 2011 under Employment Labor Law, Kentucky

Answers:

Rhonda Patterson / The Patterson Law Office, PLLC

Answered 9 years ago | Contributor

Generally a plan administrator should send a former employee notification of his/her rights to retirement benefits upon termination.  You will want to contact your former employer's HR department or the plan administrator for your retirement plan if you have not received such documentation.  You may request plan documents and summaries to confirm your eligibility and payment amounts.  In the event of a dispute, you have the right to file a formal claim for benefits with the plan administrator.


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