mathjak107
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
- Joined
- Jul 27, 2005
- Messages
- 6,210
i would never leave my 401k money with an ex employer .
all it takes is one experience when a company gets taken over because of financial issues or goes out of business to understand the hassles involved in getting your money out .
i still worked at the company when it was taken over and it took me a year and from horror stories i have seen that is good . not only that but the money sits dead in the water in not even an interest bearing account all that time .
don't forget the company is no longer paying the custodian when the plan is terminated .
there is so much red tape involved when a plan is terminated and your money is in it .
all it takes is one experience when a company gets taken over because of financial issues or goes out of business to understand the hassles involved in getting your money out .
i still worked at the company when it was taken over and it took me a year and from horror stories i have seen that is good . not only that but the money sits dead in the water in not even an interest bearing account all that time .
don't forget the company is no longer paying the custodian when the plan is terminated .
there is so much red tape involved when a plan is terminated and your money is in it .
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