I worked in Cognizat Corporation US for 5 years, and moved out of the company in 2012. I did not enroll for the 401 K plan during my employment in the company. But I am getting 401 K asset info from the company even after I leave the company, I am really not sure I am still eligible to get the 401 K benefits even though I am not enrolled, can someone help me?
Hi Narasimha! It's possible that your firm had an auto-enrollment feature to their 401(k) plan. Contact the Human Resources group first for more information and to see if you are eligible for any funds. Good for you for not overlooking any money that already belongs to you.
Narasimha, If you look at the statement and there are funds in the plan in your name, then they should break out vested and non-vested. The vested portion of the benefits would likely be yours.
Hi Narasimha, What this sounds like is you are receiving information on the companies 401(k) plan as a whole with the plans assets, liabilities, and potentially year to date contributions. My wife was never enrolled in her companies 401(k) plan but she did receive a statement like this. Unless you are receiving a statement that has your personal information and your own 401(k) balance, I would assume you were never enrolled. If there is a number to call, I would suggest calling to see if you can find out any further information. Good luck!
If you are no longer working Cognizat Corp and never enrolled in their plan, you would not be eligible to enroll. However, if you are receiving notifications that you have money in the plan, it's possible that your employer made some sort of contribution on your behalf... unusual but possible. I would suggest you call the telephone number on whatever documents you've received and ask for some clarification. Without seeing the info you've received, it's hard for me to know exactly what's going on.
Narasimha - The previous answers exhaust the possibilities of why you are getting information from the plan. Just give the administrator and call and see what gives! Good luck.