401(k) Rollover?

[PTKittrell]

I have a fairly basic question here.

I worked for a company for a little over 22 months. I left said company in 2009. I have a pension plan through the union that represented the employees (defined contribution 401(k)). When I left the company I was still in my early 20s, a 401(k) was alien to me and I did nothing with it. I still have access to the plan through their fund manager. I can move the balance around to different investments, only a handful.

My question is am I still able to roll this 401(k) over to an IRA over three years after leaving the company?

I would call the plan administrator but honestly a heavily accented Hispanic woman always answers the phone and I find conversations to be mission impossible. Any help would be appreciated.

[~bs]

I'd guess that you have more than $5k in the account. In that situation, you can leave it in as long as you like or roll it over whenever you like.

If you were under $5k, I believe they can force you to take a distribution check.

To roll the money over, you'll need to contact your old plan and your new plan to have it go smoothly. If you don't speak english very well, then you should try to initiate contact with both through email.

[Petunia 100]

Yes, you can still roll it over. You don't need to contact your old 401k at all. Choose a low cost custodian (Vanguard, Fidelity, T. Rowe Price) and ask them to roll the 401k into your new traditional IRA. They will help you fill out the appropriate paperwork, which you then submit to them (new custodian).

[PTKittrell]

Thank you for the responses. I have a brokerage account with TD Ameritrade so I will do a rollover IRA through them. I know they do not charge any maintenance fees and there is no minimum required. Also they do not charge a transfer fee for receiving the 401(k). Is is typical for the fund to charge an outgoing fee when releasing the 401(k)?

~bs you misunderstood. English is my first and only language. However for the one person who seems to answer the phone 100% of the time at the plan administrator's office, English is a second language for her. Her accent is very heavy and it makes communication difficult.

[~bs]

Sorry for the misunderstanding.

Rollovers are typically free of fees all around.

[Slug]

I did a rollover to TD Ameritrade with no issues and no fees.

[johntomba]

Yes, you can roll it over. Contact the people who you'd like to roll it over to and they will help.

[PTKittrell]

Took a while for my old pension fund to get the paperwork done, but it's finally all handled. Thanks for all of the tips.