I get it... I was fired...I am getting another gig...please communicate that I am fired to fidelity so I can access my money. The rep was kind enough to reach out to dceh...but the contact#s were invalid... wtfreak...dceh is petty!
8 replies (most recent on top)
If your balance is 100% vested, then your vested balance is non-forfeitable (Article IV in Summary Plan Description, or SPD). Anyone can check their balance using Fidelity's online service. Also, most if not all these 401k accounts were transfered from EDMC to DCEH on 9/1/2017, according to the SPD. Either way, I feel my account is protected.
I had issues when it was the EDMC 401K and they took money out of my paycheck but failed to deposit it into my 401K. This was right before the sale to Dream Center. Since I was over 59 and 1/2 I was able to roll my money into a fidelity IRA. I have some money in the 401K but not much as I don't trust what DCEH would do.
Pick up the phone and call your individual HR director. I am faculty in a closing school and while DCEH be horrific to deal with, HR boots on ground in the individual campuses are trying their best to get everything squared away.
They too didn't know it was coming and they too are soon out of a job.
I hate this company just as much as you guys do but they are not holding your 401k. There is a processing window where you employment status need to be updated! Every company is different it’s not a matter of them picking up a phone and letting Fidelity know that you were laid off. Be patient and you will get access to it soon.
I can get my 401k only after dceh says I am no longer employed by them unless I can show some hardship documentation that meets their standard of proof.
That’s not actually true. Your 401k is yours. It’s attached to your ss #. Call Fidelity and ask them. The only way they can touch some of that money is if you weren’t fully vested and then they would only be eligible for what they contributed. They will tell you right over the phone.
When I was laid off three years ago I went immediately to fidelity and had them cut a check for my 401k which I then took to Merrill Lynch to open an account that would never be linked to EDMC. DCEH sounds even worse. From what I’m hearing on this site and elsewhere, the WARN letters give you a paycheck until August 28 and the new DCEH employee contracts specifically deny severance. I can’t believe they would encumber your 401k but who knows? Remember EDMC filed for bankruptcy Friday so if they somehow managed to put your 401k in their stock as part of the deal, it’s gone. I would seriously try to withdraw your 401K today and move to another brokerage. Good luck.🍀
What??!! How can they legally do that?!! You are not physically working and they have not given us ANY info about severance. We don’t have jobs so how can they do that? Were they able to finally reach someone at Dream Center? All invalid numbers?!! Wow!