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I received a letter from Social Security stating that I have money owed me in a 401K from Aegis mortgage when I worked for them. They instructed me to send a copy of this letter to Aegis at the address on the letter in Texas. I did this and it came back to me undeliverable and out of business. Wh

Apr 25, 2013 by Sandra from Buffalo, NY in  |  Flag
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Sandra, When people leave a job this happens a lot. With everything happening with a new job, you can get very busy and sometimes forget to address what to do with your 401(k). When you leave a job you can do a few things with an old 401(k): 1. Roll it over into your new 401(k) at the new job. 2. Roll the 401(k) over into an IRA that you can choose what to invest it into 3. Take a full distribution. The 3rd option I would not advise doing. If you did this you are going to be taxed on the distribution and if under 59 1/2 you will pay a 10% penalty.

If you still have a contact with your old company I would call them and ask about the 401(k). You could contact someone in the HR department and they should be able to direct you to the right place. If you know who the plan was with (Fidelity, Vanguard, etc.) you could contact them directly and tell them you had an old 401(k) and are trying to get information on it. If it is with one of the large 401(k) companies (Fidelity, Vanguard, Schwab) they will be able to help you roll it to an IRA with them if you want to.

Comment   |  Flag   |  Apr 25, 2013 from Uniontown, OH

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Adi Benyishay Level 13

It's my advice that the Social Security Administration will rarely if ever advise you on any money owed to you by anyone. What you describe sounds like an attempt to get some information from you that somehow will help “them” in an attempt to get your personal information.

Comment   |  Flag   |  May 14, 2013 from Southampton, PA

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Sandra, to find your money, you need to do some research. You can search for unclaimed pensions at the Pension Benefit Guaranty Corporation (PBGC) website http://search.pbgc.gov/mp/mp.aspx I would also check with your states 'Unclaimed Property' fund.

2 Comments   |  Flag   |  May 06, 2013 from Delray Beach, FL
Michael Steven Greenberg, CFP®

It is also possible that Aegis was acquired by another company. If you can find that to be true, contact the acquiring company’s HR department and get the number of the plan administrator. Your money could be there.

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Flag |  May 06, 2013 near Delray Beach, FL
Sandra

FROM: sandiejl532001@yahoo.com Michael, this the most helpful information I have received to date, and I have been asking for help for over a month. Thank you and God bless you. I will start my search with your suggestions. The letter is official because I called my Social Security office. They said they can not assist me in locating the funds however, that I have to find out who the current plan administrator. They are only making me aware of "Potential Private Retirement Benefit Information." I did work for them but in 2002 they went bankrupt and went out of business. I will let you know what I find out. Thanks again.

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Flag |  May 14, 2013 near Buffalo, NY

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