QUESTION
Can a company hold your pension?
Asked on Mar 24th, 2014 on Labor and Employment - Michigan
More details to this question:
I want to roll my pension from my previous employer to my 401k that I have with my current employer but they tell me that I have to wait until I am 55.
5 ANSWERS
Commercial Contracts Attorney serving Boise, ID
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Peters Law, PLLC
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That doesn't sound right to me. Contact a local employment law attorney and see what he or she says.
Answered on Mar 25th, 2014 at 2:39 PM
I do not think this is true. I suggest you consult with some one familiar with pension laws. I know of no reason why you may not roll it over to a new plan. Have you spoken to the pension administrator, who is likely a 3rd party, like Fidelity.
Answered on Mar 25th, 2014 at 2:18 PM
It probably depends on the "rules". Contact the Pension Administrator and request a copy of the "rules". Contact an attorney if needed.
Answered on Mar 25th, 2014 at 1:45 PM
Does not sound right. More information is needed.
Answered on Mar 25th, 2014 at 1:43 PM
Appellate Attorney serving Grosse Pointe Farms, MI
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Musilli Brennan Associates, PLLC
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It is doubtful the have that right but the devil is in the details. The documentation must be reviewed.
Answered on Mar 25th, 2014 at 1:42 PM