u/mineArchitect

2026-06-26

 

Long story.  I’ll keep it short.  Recently I reached out to Lincoln Financial Group of Fort Wayne, IN, in April to close out a 401K from an old employer that had just been sitting there a couple of years after leaving the company.  At the time of employment, I was able to save a little money, and the employer contribution (at the time of employment) was a 50% match.

The value of the 401K at the time of closure 5/20, it was $2800+.  Lincoln very opaquely demonstrated that my employer was rescinding $1009 from my account. See photos of weekly ‘activity’ reports, and you will understand my confusion.  Watch how the money just seems to vaporize mysteriously without any direction as to where the money went.  And every week, the value is zero. 

I was just waiting for a check that never arrived.  Weeks, months go by.  And now I start receiving these cryptic weekly statements....

 When I began to inquire about what was happening, none of the important questions about this mysterious ‘Forfeiture’ account was.  I even asked, “Forfeiture?  What is that?”  the rep’s response was that it was “oh, that’s the employer’s contribution”.   I replied, “what?  so why doesn’t it say ‘employer contribution’?”  Weeks went by.  No check in the mail.  I call again.

Bottom Line:  Lincoln ‘passes the buck’ to the employer, “ oh yeah, the employer changed the ‘vesting rules’  on Christmas of ’25 and you are now only 20% vested”.  What? I was never notified of this.

Oh really?  I earned that money!  Now you say, after years of earning interest, you change the rules and have the right to rescind, and take money that was presumably mine?  Is that legal?  This seems completely and utterly illegal, and if it is not, it should be.  “I am calling you out!”

I couldn’t imagine this being $280, 000, and learning your employer is rescinding $100,900.  This practice should be made illegal if it is not already.

What do you think?  Leave a comment below.

2026-06-26

 

Long story.  I’ll keep it short.  Recently I reached out to Lincoln Financial Group of Fort Wayne, IN, in April to close out a 401K from an old employer that had just been sitting there a couple of years after leaving the company.  At the time of employment, I was able to save a little money, and the employer contribution (at the time of employment) was a 50% match.

The value of the 401K at the time of closure 5/20, it was $2800+.  Lincoln very opaquely demonstrated that my employer was rescinding $1009 from my account. See photos of weekly ‘activity’ reports, and you will understand my confusion.  Watch how the money just seems to vaporize mysteriously without any direction as to where the money went.  And every week, the value is zero. 

I was just waiting for a check that never arrived.  Weeks, months go by.  And now I start receiving these cryptic weekly statements....

 When I began to inquire about what was happening, none of the important questions about this mysterious ‘Forfeiture’ account was.  I even asked, “Forfeiture?  What is that?”  the rep’s response was that it was “oh, that’s the employer’s contribution”.   I replied, “what?  so why doesn’t it say ‘employer contribution’?”  Weeks went by.  No check in the mail.  I call again.

Bottom Line:  Lincoln ‘passes the buck’ to the employer, “ oh yeah, the employer changed the ‘vesting rules’  on Christmas of ’25 and you are now only 20% vested”.  What? I was never notified of this.

Oh really?  I earned that money!  Now you say, after years of earning interest, you change the rules and have the right to rescind, and take money that was presumably mine?  Is that legal?  This seems completely and utterly illegal, and if it is not, it should be.  “I am calling you out!”

I couldn’t imagine this being $280, 000, and learning your employer is rescinding $100,900.  This practice should be made illegal if it is not already.

What do you think?  Leave a comment below.