401K changing recordkeepers…

by hedy on December 17, 2010

I got a letter from the recordkeeper of my 401K the other week.  There will be a new recordkeeper of my 401k* as of the beginning of next month.  There are not too many drastic changes in funds (actually, a few fund names I remember from when I worked in benefits).  We’ve also gotten a couple of e-mails at work about it-while I am somewhat on top of it, I have to say that recordkeeper changes were one of the top things people got confused about (or ignored their mail about) so I’m glad they are reminding us of this change.

See, when your 401k moves from one recordkeeper to another, it enters a black-out period. During this period, you, the employee, cannot make changes to your account. (Fun fact-the black out period is part of the Sarbanes-Oxley Act.  This act came to pass in the financial world that was post-Enron.)  So read everything you get from your plan administrators.

Credit: Free photos from acobox.com

*Incidentally, this year’s 401(k) contributions were matched at 40%-w00t!

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401K Recordkeeper transfer complete…
February 16, 2011 at 12:06 pm

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