Jeb-NY
Recycles dryer sheets
I have been absent from the forums for a long time but have ran into a problem. The great advice I picked up here helped me retire at 57 (now 65). Having a bit more in investments now than when I walked out the door and my wife and have been living well. Still no plans to tap SS, that is our safety net if we drop below a certain point in our investments and want to slow the rate of withdrawal.
Any way since I have gotten good advice here before I thought I might get some ideas. We have most of our retirement in Vanguard but have been cleaning up some misc smaller accounts to make life easer as time goes along. My wife is a mostly retired RN and in one of her past jobs opened a 403b. Only a little over $5K in it so we decided to cash it in to supplement our mad money for 2013. The hospital was bought out by a larger hospital and closed 10+ years ago and my wife left even before that. The money is in Lincoln Financial Group.
Now the problems. We requested and got the 8 page form that needed to be filled out and returned to close the account. About 3 weeks after sending the papers in we got a letter saying we needed to contact Great GASB for authorization. They said they tried several times without success. Then said to contact the HR department for additional help (we told them the hospital did not exist anymore in the paper work). Contacting Great GASP had them passing the buck to something called SOMI. Contacting SOMI they again said to contact the hospital that doesn't exist and then said to call the HR department of the very large medical conglomerate that bough out and closed the hospital. Several phone calls to there always gets a phone tree with an answering machine at the end that never returns the call.
Seems to me the 403B is her name and she is 64 years old and should not need permission to withdraw her money. Anyone have any ideas on other paths to take?
Jim...
Any way since I have gotten good advice here before I thought I might get some ideas. We have most of our retirement in Vanguard but have been cleaning up some misc smaller accounts to make life easer as time goes along. My wife is a mostly retired RN and in one of her past jobs opened a 403b. Only a little over $5K in it so we decided to cash it in to supplement our mad money for 2013. The hospital was bought out by a larger hospital and closed 10+ years ago and my wife left even before that. The money is in Lincoln Financial Group.
Now the problems. We requested and got the 8 page form that needed to be filled out and returned to close the account. About 3 weeks after sending the papers in we got a letter saying we needed to contact Great GASB for authorization. They said they tried several times without success. Then said to contact the HR department for additional help (we told them the hospital did not exist anymore in the paper work). Contacting Great GASP had them passing the buck to something called SOMI. Contacting SOMI they again said to contact the hospital that doesn't exist and then said to call the HR department of the very large medical conglomerate that bough out and closed the hospital. Several phone calls to there always gets a phone tree with an answering machine at the end that never returns the call.
Seems to me the 403B is her name and she is 64 years old and should not need permission to withdraw her money. Anyone have any ideas on other paths to take?
Jim...