Cash Balance payout Question

For the legacy SBC folks who were on the cash balance plan, after you were surplussed and assuming you qualified for modified rule 75 and chose the lump sum, how long did it take after you left before you got the check? I am asking folks who chose to roll it to an IRA. the day I got my notice 7/10 I called fidelity and told them I want my cash balance in a lump Doewas told I would get it this month.

Once I get a new job if it has a 401k I am moving my 401k away from fidelity. I already called them and cashed out all my remaining att stock, it was not much anyway. Financial engines did a great job managing my 401k so I had less than one year of att match in my 401k.

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thanks or that advice, cost is not the only factor. I am doing a side gig that involves managing money. I dont do it personally, I bring it to my side company to manage. I can get the same management from another company for the same price. ATT 301k in Fidelity have three asset classes. Stock, bonds, cash. My side place give me access to more asset classes plus they can go to 100 percent cash before the market tanks. Fidelity did not do that for me in 2008/2009 so I lost double digits. my side place will not do that, plus I want my 401k to be one place. I may move some out over time into more guaranteed options.

"Once I get a new job if it has a 401k I am moving my 401k away from fidelity."

Don't rush, take your time and do your homework. Fidelity is a quality solid low-cost provider, choosing them as a 401(k) administrator was something AT&T did right. Rolling it to a Fidelity IRA would open you up to most Fidelity funds if you're seeking more options.

We have a personal money outside of 401's, as well a– rolled into IRA's and it's currently split between Fidelity and Vanguard. Both companies have been very good to work with for decades, at low cost.

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Cash Balance payout Question

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