Does 401K Expire?
37376 POINTSview profileDavid G. Pipes, CLU®, RICP®Business Development Officer, T.D. McNeil Insurance Services, Fresno, CaliforniaYes a 401(k) plan can be discontinued. There are specific guidelines from ERISA; however, the plan can be terminated. Many 401(k) plans are the result of terminations of defined benefit pension plans. Generally employees do not lose money when a plan is discontinued; however, that is not a guarantee. One of the benefits normally extended when a plan is discontinued is that all employees become fully vested and can receive the employer’s portion of the plan without restriction. These terminations can be tricky from a tax perspective.Answered on August 4, 2014flag this answer
21750 POINTSview profileJim WinklerCEO/Owner, Winkler Financial Group, Houston, TexasThat is a great question! If what you are asking is something along the lines of "I had this job once, with a 401k, and I left the job, does the 401k still exist?", the answer is yes, it does! It may be hard to find if the company isn't around anymore, but it does still exist in some financial institution that is overseeing it. Start with the company HR department if they still exist, or hunt up the bank that used to do your paychecks, you might get lucky. If that doesn't work, try your Secretary of state, it should be on file who they used. Thanks for asking, and happy hunting!Answered on August 5, 2014flag this answer
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