- Joined
- Jun 10, 2011
- Messages
- 497
Former employee here....
So I made a mistake. In the process of moving and everything, I never got around to making a decision on what to do with my 401k money. My current employer has a 401k and I wanted to move my balance to that...so I just checked my 401k account today on my pay and benefits. So, wouldn't you know it...YESTERDAY, there was a transaction for an automatic forceout...I have over 2 grand in my 401k account and I didn't know they could just force me out when I had that amount of money in the 401k. Anyway, this is what it says...
Destination for Cash Rollover
Cash Rollover $(amount)
DC Default IRA Rollover
Key Bank
Account Number: (account)
Rollover Type: Traditional IRA
Routing Number: (routing number)
So how do I proceed on this? I'm assuming I will receive a letter on how to access this new account because I'll need to in order to transfer the money in it to the 401k...and now that it's in an IRA I hope it doesn't prevent me from moving the money to the 401k at my new job. I'm so mad at myself for not doing this sooner. I hope someone can help me.
So I made a mistake. In the process of moving and everything, I never got around to making a decision on what to do with my 401k money. My current employer has a 401k and I wanted to move my balance to that...so I just checked my 401k account today on my pay and benefits. So, wouldn't you know it...YESTERDAY, there was a transaction for an automatic forceout...I have over 2 grand in my 401k account and I didn't know they could just force me out when I had that amount of money in the 401k. Anyway, this is what it says...
Destination for Cash Rollover
Cash Rollover $(amount)
DC Default IRA Rollover
Key Bank
Account Number: (account)
Rollover Type: Traditional IRA
Routing Number: (routing number)
So how do I proceed on this? I'm assuming I will receive a letter on how to access this new account because I'll need to in order to transfer the money in it to the 401k...and now that it's in an IRA I hope it doesn't prevent me from moving the money to the 401k at my new job. I'm so mad at myself for not doing this sooner. I hope someone can help me.