The internal site is lacking in details.
When you leave Citi, does the plan allow for a direct rollover to another institution for a combination of the following: Pre-tax 401K, after tax Roth and company (C) stock?
Or is there like a restriction of not being able to direct transfer the company stock.
Asking for a friend.
4 replies (most recent on top)
Funny thing - I retired last year and did a 401k rollover then. They sent me a check that I had to send to my IRA custodian myself. They couldn't do a direct wire transfer. Thought that closed out my account but to my surprise, they made a matching contribution in March (I had contributed some small amount in 24). You guessed it - had to get another check. Why they couldn't just transfer it directly in this day and age, I'll never know. Still, it was very nice of them.
I guess your friend can ask these questions directly:-)
Keep your account active until end of March to get firm contribution
Lucky friend. If you do the rollover, do you still get whatever match you're eligible for in March? (Does the account close?)
Asking for a friend of course.
Rollover is allowed. Your friend will get a package in the mail with instructions not only for the 401k, but also COBRA insurance, etc.