Jan 3

I recently switched companies & I am cashing out my 401k. Its done, so I don’t want to hear about it being a bad decision. I am just curoius how long to expect to wait for the check. Can it be direct depoited? Would that speed it up? Does anyone have experience with this?

2 comments so far...

  • Peter C Said on January 3rd, 2010 at 11:35 am:

    Your distribution from the former 401(k) provider depends on the schedule they have set in their retirement plan documents. Sometimes it’s the next quarter, sometimes the next year–check with your H/R department. Direct deposit has no effect on it.

  • digdowndeepnseattle Said on January 3rd, 2010 at 11:56 am:

    If you haven’t submitted your paperwork yet then move all of your money into a money market now. This will eliminate about 2 days for liquidation of assets. But in all reality..it’s going to take 10-15 days and there’s not much you can do to hurry it up. Direct deposit or wiring the money will speed it up but not all companies do that.

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