hello goombay ,
sorry for the delay in getting back to you on your question , but i was having difficulty getting myself logged back in on xertech after getting a new laptop .
for whatever it's worth , my conversations with several different tech reps are very mixed . some , like myself , had their 401(k) money transferred within three weeks and others took three months . i think the most important thing is develop a DIALOG with hewitt and to call them back regularily to make sure either they have received the materials you've sent them or to update them , and yourself , as to what is needed next . durning my ' transition ' period from employment to retirement , i was on the phone alot with them and ALWAYS ended EVERY phone call with a short agreement from the hewitt / xerox rep as to when i could call back or when i should expect the next thing to happen . it doesn't do you any good to just call them several times a day if they aren't prepared to give you any fresh new information . in your conversations , please remember that getting angry or mad doesn't help your situation and they are there to assist and serve you . please read and reread all the packet material they sent you as to what it is they expect from you to return in your application . often times , a single piece of information can cost you another week's or month delay .
at the time i retired , some of the specific information they required was my ' birth certificate ' , wife's birth certificate , our marriage license , EXACT account coding / routing information for your check to your new account . PLUS numerous federal and xerox signed paperwork in your packet .
at the time i separated , i was given the advice that receiving my ' transitional account ' money from my xerox 401(k) would be done the fastest if the check were sent to my home mailing address instead of your new custodian's mailing address . PLEASE - REPEAT - PLEASE - make sure the check IS NOT made out to you personally , but to your new custodian's account in your name . in my case i rolled my xerox ' transitional account ' into a Schwab rollover IRA account i had set up at a local Schwab office . in some instances , you can imagine how much longer it might take if your check were sent to the national Schwab office in america while you called every day asking where the heck is my money while your check sat in that huge inbox waiting for the next available rep to open and process . ARXE (
http://www.arxe.org[/url] ) has a new excellent FAQ section on their web site that is updated often and is a growing data base of important information . and the xerox matterofchoice web site (
http://www.matterofchoice.com[/url] ) also has an excellent FAQ section for you to read .
at all times remember that ' be nice ' , cause if you want to fight with the rep on the phone , it can delay your processing of your money and usually you're going to have much more difficulties with your new custodian if you intend to transfer your money than you are with xerox / hewitt . and , of course , you always have the option to leave a portion or all of your money in the xerox 401(k) and take a distribution directly from there for your retirement living expenses . good luck and let us know how it gos . your experience will help others who will leave after you .
