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Pleasant Retirement Surprise

July 27th, 2019 at 05:08 pm

Yesterday while doing my end of the month numbers I seen a new account show up my on my mint...

For some reason there is a new 401k account open from husband's old employer that he quit back in September. He previously had a 401k there that we transferred to his new one, and I thought closed. It looks like it has been reopened and they contributed $1,769 into it!?

The only thing is says is "Profit Sharing" which the company used to give them a lump sum amount every year about this time into their 401k as a bonus. The transaction date says it was started 12/31/2018 and just posted yesterday.

Is is possible that this is husband's portion of profit sharing from last year? I just assumed he wouldn't get it since he quit during the year.

I logged into Vanguard and there is no history. Just the contribution yesterday. Is this really our money? And what do I do with it? I hate to have yet another account with a small sum in it. Can I transfer is without repercussions/taxes even though it is past the 30 days since he quit?

Looks I will be calling the company/vanguard on Monday to figure all this out. At least it's a pleasant surprise!

1 Responses to “Pleasant Retirement Surprise”

  1. Dido Says:

    Do call to confirm, but most likely this is legit. Profit Sharing Plan contributions come well after everything else. I was just talking to a client yesterday who told me that he gets his bonus in October based on his employer's prior year income.

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