During the third week of September, 2005, I had initiated the rollover process for my old 401K plan at the previous job into a rollover IRA account at Fidelity Investments. Now, it's beginning of November but the funds still has not been rolled over into the new account. However, the funds have been emptied out from the old 401K plan already. The distribution check designated for Fidelity Investments still has not arrived. I think it takes about a month or so to get this process completed, so I'll give it another week or so before I start looking into why the check has not been received.
The distribution check isn't much since I didn't contribute the maximum contribution to get the company's match. The company's match is fully vested only after three years and since I knew that I would not be staying with the company that long anyway, I was not worried. However, I do wish that I had contributed at least 5% of pay to the old 401K plan. I believe I contributed the minimum contribution percentage, that's set as a default by the company.
Does anyone know how long the rollover process takes in general, beginning with submittal of the distribution form to your old company and ending with the deposition of your money into the new rollover IRA account?
