401k distribution

[pete083164]

After leaving a company do they have to give you the distribution papers for you 401K in a timely manner?
I left the company 07/2007 and just got my paperwork 2/20/2010

 

[cbg]

Yes. However, what is timely varies with the plan. Not all plans allow for immediate distribution. Quarterly is possible, as is semi-annual, and I've even seen one plan that only allowed for an annual distribution. (I believe, but cannot prove, that annual is the longest time allowed under Federal law.)

If that were the case, to give you an example, say the annual distribution was made in January. You left your employer in February. Receiving the paperwork the following December would in that case be timely.