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How Long Can A Plan Hold Your 401K Money Before They Have To Release It To You After You Leave A Job?
My son has left his job and requested the money in his 401 plan and the administrator said he had to wait a year for his money. Is this legal and can they refuse to turn over his money to him. Who can he contact for help in this matter?
asked 9 months ago
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I believe they have to release the money as soon as his dismissal and all of his paperwork have been completed. I was in the same situation and i was able to get my money 30 or so days after i was no longer employed with the company. You usually have the choice to take the money out in cash or roll it over into another 401k or an IRA,
answered 8 months ago
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