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Maverick, Attorney
Category: Legal
Satisfied Customers: 6422
Experience:  20 years experience as a civil trial and appellate lawyer
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My wife recently lost her job, she has a 403b retirement

Customer Question

My wife recently lost her job, she has a 403b retirement account with Washington insurance, it used to be Conseco. She has sent all the proper paper work several times to close the account but they return it each time saying they need more information, which is the same information that she had already sent them. We are up against the wall with these people and all we want is our money returned!
JA: Because employment law varies from place to place, can you tell me what state this is in?
Customer: Kansas
JA: Has anything been filed or reported?
Customer: Just with Washington insurance
JA: Anything else you want the lawyer to know before I connect you?
Customer: My wife can explain it better than I can, so I would prefer that a lawery speak with her.
Submitted: 1 year ago.
Category: Legal
Expert:  Maverick replied 1 year ago.

Welcome to Just Answer! My name is***** give me a few minutes to review, analyze and/or research your inquiry and I will be back.

Expert:  Maverick replied 1 year ago.

The first think to try is to go to a financial institution or broker in your area [Like Fidelity or Scottrade or Merril Lynch, etc.] and open an IRA account with them and then ask them to fill out a form to roll the 403b account over to your new IRA account. Rolling over your 403b into an IRA can be a good choice because it gives you more control over your investment options, tends to have lower fees, may save you from being hit with taxes and penalties, and can hold funds from all of your previous work retirement accounts. Washington Insurance will have a harder time denying such a request from a competitor.

If that does not work, you can sue them for a court order that says that they must close the account and send you the money. This is done under a declaratory judgment action. See the law here.

See sample petition here.

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