Legal Junkies Forums

#1 Community for Legal Questions and Answers

Go Back   Legal Junkies Forums > LABOR and EMPLOYMENT LAW > Other Labor Law Matters

Register FAQ Tags Members List Social Groups Search Today's Posts Mark Forums Read Layout




Thread Tools Search this Thread Rate Thread Display Modes
Old 03-10-2011, 12:50 PM   #1
Posts: n/a
Angry Employer close my 401k account without notice

Country: United States of America
State: District of Columbia

My employer close my 401k account without notice and no new information about the new company. Is this legal?
  Reply With Quote

Did you find this post helpful? Yes | No
Old 03-11-2011, 11:51 AM   #2
Posts: n/a
Default Re: Employer close my 401k account without notice

No it is normally not legal.

You could consult your nearest Department of Labor office to briefly discuss the issue with them may also want to ask the company to put what is happening in writing and explain to them that you may have attorneys review the situation...try speaking to a higher level of management about the issue.
  Reply With Quote

Did you find this post helpful? Yes | No
Old 03-14-2011, 02:23 AM   #3
Top Level Member
Lexus's Avatar
Join Date: Sep 2010
Posts: 8,488
Default Re: Employer close my 401k account without notice

First of all let me remind you that employer employee relations are maintained basically according to the agreement that is entered into between the parties. Generally an employer is bound to provide notice to his/her employees before initiating any kind of actions. Before closing your 401k account your boss has the duty to let you know the reason why he was forced to take such an action and you will be given a fair chance to put your version regarding this. From the facts it seems that your employer had violated the principles of natural justice. You can seek legal advice in this regard.You may also try to find out what is the present position in the labor law in your state regarding this aspect. It is better advised that you may consult with a Labor Attorney who can give a proper guidance in this regard.
Lexus is offline   Reply With Quote

Did you find this post helpful? Yes | No



This thread has 2 replies and has been viewed 2683 times

Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes Rate This Thread
Rate This Thread:

Posting Rules
You may not post new threads
You may post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off

Forum Jump

Similar Threads

Thread Thread Starter Forum Replies Last Post
Financial Account Frozen by Employer allisonm Consumer Complaints 2 08-22-2013 11:36 AM
Notice for Joint Account (when the bank terminates the account) apoelthrilos Business Contracts and Partnerships 2 07-01-2011 07:23 AM
Paycheck with no money in the employer's business account Unregistered Small Claims Courts 1 02-14-2011 02:23 PM
401k account -- address of record for tax reporting purposes Unregistered Debt Collection 1 01-20-2009 11:29 AM
401k and foreclosure: my employer will not let me access it Unregistered Other Real Estate Law Matters 1 12-06-2006 12:11 PM

All times are GMT -4. The time now is 03:45 PM.

Use of the Forums is subject to our Disclaimer. Copyright 2009-2018 by