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How can I find out what's in my 401k plan that I have with W.E Bassette Company I had worked for them from 1980-1987 I have moved out of state and what like to get some type of information on what I have available?

May 01, 2013 by Donita from Henrico, VA in  |  Flag
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Hello Donita, The best place to start is to contact your former employer's Human Resources Department. They will be able to tell you which provider manages their 401(k) plan. You can then contact that firm directly to determine what you have available.

Comment   |  Flag   |  May 01, 2013 from Palatine, IL

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Donita,

I'm afraid you might be in for just a little bit of work but if you roll your sleeves up and be persistent, you should be able to find your money.

According to the news releases I was able to find, W.E.Bassett Company merged with Pacific World Corporation and closed their main W.E.Bassett plant. Approximately 200-300 workers were laid off. One of the W.E.Bassett brands - the "TRIM" brand - remains. It is possible that the W.E. Bassett 401k was "absorbed" into Pacific World's 401k... or it was left as a separate, old 401k because all of the workers involved were laid off. Possibly some of the management had new jobs at Pacific World. Without knowing the details of the merger, it is difficult to tell. Pacific World's phone number is 949-598-2400; ask for Human Resources and ask them what happened to the W.E.Bassett 401k during the merger and is there a contact number.

You may also consider going to www.FreeErisa.com and look for W.E. Bassett's last Form 5500. The Form 5500 is the form that every 401k plan must file on an annual basis to report the amounts in the plan, the contributions, etc. Since the closing was last year, it might not even be filed for 2012 yet, but you will be able to see the older ones. You will have to create a free account to get very far. The form 5500 will tell you who has custody of the plan (such as Vanguard, Schwab, ADP, etc) and they should be able to help you. Call them directly, tell them that you are a separated employee with this company, and that you believe you have a 401k account there. They should be able to search by your Social Security number.

Since you were an employee from so long ago, it is possible that your account was turned over to the National Registry of Unclaimed Retirement Benefits. You can perform a free search at www.unclaimedretirementbenefits.com.

Good luck and be persistent with it.

Once you find out where the account is, I would roll the money over to an IRA. Open an IRA at Vanguard, Fidelity, Schwab... or another provider of your choice. Make sure it is a "direct rollover" (use these words) and you don't touch the money. It will not be a taxable event. Once you have the funds, then it might be time to sit down and really think through what to do with them. A consultation with a financial planner might not be a bad idea, especially if the account is larger than you are expecting - which it might be, depending upon how the funds were invested.

Jon Castle http://www.WealthGuards.com

Comment   |  Flag   |  May 01, 2013 from Jacksonville, FL

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Donita,

I found the following address and phone number. I would start by calling and ask for the Human Resources department. It may help if you have some documentation from when you were in the plan. They should be able to point you in the right direction.

The W E Bassett Company 100 Trap Falls Road Extension Shelton, CT 06484-4655 Phone: (203) 929-8483

Comment   |  Flag   |  May 01, 2013 from Lititz, PA

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