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Hello. Several years ago I was employeed by Whole Foods Market (Milwaukee, WI branch) I left the company. I was enrolled in their 401k program. How do I access this information from them and move it into my current retirement plan (through Vanguard?)?

I know the amount that was invested is small, but I would like to claim it anyways ( I did earn it afterall) Wholefoods web page has no information at all on how to do this.

Apr 23, 2013 by Ben from Milwaukee, WI in  |  Flag
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Peter C. Karp Level 20

Ben, you should be receiving quarterly statements from the provider of your 401(k) that you had when you were employed at Whole Foods. There should be contact information on the statement for anyone that has questions and I would encourage you to contact them as they will be the ones that provide you with the necessary paperwork to initiate a transfer to your current employer’s 401(k) plan. There is a specific process you need to follow in order to not incur penalties or taxes. I recommend that you work with the current advisor for the plan and/or reach out to Vanguard to assist you in the conversion. Your current employers HR department should also have forms available with regards to transferring an old 401(k) into your current account. If you have additional questions or need overall guidance you may contact us at 415-345-8185 or email peter@karpcapital.com

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Comment   |  Flag   |  Apr 30, 2013 from San Francisco, CA

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Rich Winer Level 20

Ben, you should be able to get information from the HR department at Whole Foods Market's company headquarters. According to BrightScope, the contact number for their plan is (512) 477-5566. Since BrightScope lists two Fidelity target retirement funds as two of the top three investments in the plan, I'm guessing that Fidelity may be their plan custodian. You may be able to get information by calling Fidelity. Since the top holding in the plan was Whole Foods Market stock, if you own the company's stock in your retirement plan, you should consult with a financial advisor who is familiar with NUA to discuss potential tax-saving options available to you PRIOR to rolling over your assets from the plan.

Comment   |  Flag   |  Apr 23, 2013 from Woodland Hills, CA

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If you need help with any of this, please feel free to give us a call, as we work closely with Fidelity as a Custodian as well as Vanguard and can help you with the rollover process, if you do decide to move forward.

We are located right here in Appleton, WI and you can check us out at www.endowmentwm.com


Comment   |  Flag   |  May 06, 2013 from Appleton, WI

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Ben, if the number Rich posted is not correct, just call HR at Whole Foods and get the number for the Plan Administrator. The plan Administrator is the one that will give you information and forms you will need.

The easiest thing might be to roll it into your current Vanguard account. Fees are presumably low, and there would only be one statement to watch.

Comment   |  Flag   |  May 06, 2013 from Delray Beach, FL

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