NESC said it moved from 15th to 30th now?
Anyone get confirmation for this also?
And for rolling over 401K now they’re saying check only. I have the routing numbers and stuff and initiated out and Fidelity should be able to bring in to the rollover IRA electronically you’d think.
Guessing if I call NESC again another agent will say something else.
Just gotta laugh. Anyway, if anyone retired 11/30 gets their lump sum please post if you don’t mind.
What I figured out when I left was that the people who called NESC in regard to having their 401K rolled over ended up with a check mailed to them. I did my rollover by following the online instructions that were mailed to me. My 401K was sent electronically to my IRA within a couple of days. We also figured out that when people called NESC , the answers to questions were always different depending on who at NESC answered them. It was a running joke!
My SSIP check arrived in the mail about 2 weeks after my last day. My lump sum check took 45 days to arrive. Both were in regular envelopes (not registered or certified mail).
My lump sum went to Vanguard in about 45 days...Oct15 from a Aug30 last day. The contributory was mailed UPS and I found the envelope in the neighbors bushes after I cut thru their yard to get the mail. No signature required.
My lump sum was funded 45 days. After I retired. The check was to be sent the 1st of the next month. I guess it takes 15 plus days to lick a stamp and seal the envelope. It was to be sent to my retirement investment management company…. Never arrived. After the waiting for three weeks. I contacted NESC. They canceled the check and sent another….. 4 weeks go by still no check…. I contacted NESC. They canceled that check. And overnighted. The check. I arrived that time 45 plus days late. 60 days after the amount was released…..
Earlier:
I had no issues with the SSIP funds. Arrived on time as expected…. For some reason the Lump Sum process is flawed. My advice. Pay for direct deposit
I rolled over my 401k to fidelity by direct deposit and had no problem. Need to open a roll-overall account in fidelity first, and then add the account info in SSIP site: this step is easy to miss, it is in the 2nd step during the roller-over process, click "let us know" (see below), it will direct you to another site to link to fidelity account. wait few days, and ready to do direct deposit, but still needs 4-5 days to show up in fidelity account.
Make Your Payment Choices
If you plan to roll over your payment into an IRA or another employer plan, Ford needs to know where to send the payment. If you have an IRA or employer plan, "let us know" . If you don't have an IRA, set one up.
Anything Ford touches turns to cr-p and is always late.
My main reason for roll over of the 401K to my IRAs was simply not to have to work with NESC anymore than absolutely necessary.