If you have been recently laid off or left on your own, double check your vesting amount especially if you Rollover your account. I was fully vested as I had been with TD a long time past the vesting requirement before I left. I received an email in December telling me I needed to rollover my account or make an election by a certain time period or my account would be closed and I would basically receive a check for the balance. I rolled it, but then I was missing a large sum of money which was the match portion as if I wasn’t vested. I called Fidelity and they agreed I had been vested for awhile and they reached out to TD to refund me. I’m still waiting on my money and following up. I’m hoping I’m just a clerical error, but I just wanted to throw a heads up in case I’m not.
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Wait, they’re forcing people to exit the 401k plan soon after leaving the company? That’s crazy. It prevents those between 55 and 59.5 from taking advantage of the Rule of 55 that lets you take withdrawals from your last 401k plan without the 10% penalty if you don’t roll it over. If you move it, the rule doesn’t apply. That would be really cruel to do that to people just laid off who might need to tap their 401k’s early.
Had a similar experience when I retired about a decade ago. My Fidelity advisor recommended I use all of my 401K balance to purchase an annuity rather than do a rollover. She suggested (never came out and said it) that TD had a history of not funding matching contributions. They get away ja--ing individuals around. Not so big dogs, like say Mas Mutual.