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re: Company being bought out, forced to roll 401k to new companies plan
Posted on 3/23/11 at 4:11 pm to The ATL
Posted on 3/23/11 at 4:11 pm to The ATL
Just an FYI for anyone who cares...
I might be able to roll into an IRA afterall. Our buyout was a little odd. The company doing the buyout bought all of the company stock, so the old company still exists. However, we are being made to fill out paperwork to become employees of the new company. So technically each employee is changing companies for a job. The company that bought us out has there legal group looking deeper into it, but that was there initial answer.
I might be able to roll into an IRA afterall. Our buyout was a little odd. The company doing the buyout bought all of the company stock, so the old company still exists. However, we are being made to fill out paperwork to become employees of the new company. So technically each employee is changing companies for a job. The company that bought us out has there legal group looking deeper into it, but that was there initial answer.
1
Posted on 3/24/11 at 1:09 am to LSU0358
Microsoft acquired a company I worked for in the same exact manner in which your company is being bought.
Our 401 was rolled over into the MSFT plan. No choice in the matter.
Our 401 was rolled over into the MSFT plan. No choice in the matter.
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