I was let go by USB and now finally am settled in my new job. What is the easiest way to rollover your money from the U.S. Bank 2010 Cash Balance Plan? I have already rolled over my 401k from Fidelity but the funds from the U.S. Bank 2010 Cash Balance Plan seem more difficult to rollover.
10 replies (most recent on top)
@OP Just as easy to roll over. I first set up a rollover IRA at Fidelity that gave me a landing place for the funds. Then I followed the instructions on the Alight (Hewitt) site to roll it over. It does take a couple of months to actually transfer because it something like the month after the first full month after you requested the rollover, it does happen automatically and without having to take possession of the funds.
@m4 Agreed, we could almost certainly invest the funds in something that earns at least 6-7% conservatively.
@h5 why are you sharing this with strangers?
Collect Ohio unemployment and stop blaming others.
Wish they’d let us invest that money. It pretty much is money market interest.
I cashed mine out. Laid off a year ago and it’s all I have, other than my 401k, which is next. I have heart medication that costs an arm and a leg and my layoff has thrown my family into poverty here in Cincy.
You are seriously seeking financial advice on social media? Glad you left the Bank.
This would be a good question for the Benefits group (HR), rather than posting as a question on a random web site that's about layoffs. Unless you go to the real source you are likely to get lots of blatantly wrong advice on here because people post random assed bullsh-t on here.
Mine rolled right into my IRA at Fidelity. You need to give U.S. Bank your rollover account info and they'll do the rest.
Call the Benefits number. They will help you. Depending on where you are rolling it to, it could be done electronically.