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anitje

457B Liquidated By Prior Employer Without My Authorization

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My 457b funds were liquidated and distributed to me by my employer (a hospital) without my prior authorization. I left my employer 3 years ago. The funds were held by Fidelity. The head of benefits at the hospital informed me that after termination of employment they had to distribute the funds to me within one year. However, Fidelity claims there is nothing stating that in the plan documents that they hold. I asked the head of benefits to provide me with plan documentation stating that this is the case and she told me that they do not have such a document.

 

What should I do?

 

Thanks in advance.....

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My 457b funds were liquidated and distributed to me by my employer (a hospital) without my prior authorization. I left my employer 3 years ago. The funds were held by Fidelity. The head of benefits at the hospital informed me that after termination of employment they had to distribute the funds to me within one year. However, Fidelity claims there is nothing stating that in the plan documents that they hold. I asked the head of benefits to provide me with plan documentation stating that this is the case and she told me that they do not have such a document.

 

What should I do?

 

Thanks in advance.....

 

 

They must have a plan document or policy written somewhere. This benefit rep may be trying to brush you off.

 

But do you want to do?

Was this a taxable event, a check mailed to you?

 

Steve

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My 457b funds were liquidated and distributed to me by my employer (a hospital) without my prior authorization. I left my employer 3 years ago. The funds were held by Fidelity. The head of benefits at the hospital informed me that after termination of employment they had to distribute the funds to me within one year. However, Fidelity claims there is nothing stating that in the plan documents that they hold. I asked the head of benefits to provide me with plan documentation stating that this is the case and she told me that they do not have such a document.

 

What should I do?

 

Thanks in advance.....

 

 

They must have a plan document or policy written somewhere. This benefit rep may be trying to brush you off.

 

But do you want to do?

Was this a taxable event, a check mailed to you?

 

Steve

 

 

 

Thanks for replying, Steve. Yes, the check was mailed to me, and I do believe she is trying to brush me off. Is a non-qualified plan required to give the holder the option to elect not to withdraw funds after severing employment? And even if I can prove they were wrong in liquidating my account without my permission, what recourse do I have once the check has been mailed to me? What could I claim as damages?

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