A friend is leaving a job and is trying to roll over her 401k to an IRA. Her employer told her that there is a 1-year "wait period" to do a rollover. In other words, my friend has to wait 1 year from her quit date before any rollover can occur.
I've never encountered this but it's been a while since I've had to do a rollover. Is this part of the new 401k regulations or is this an employer rule?
I've never encountered this but it's been a while since I've had to do a rollover. Is this part of the new 401k regulations or is this an employer rule?