Legal Question in Employment Law in Virginia

Re: Retirment Plan

You should request to review the terms of the

company document establishing and governing the

use of 401-K accounts during the course of an employee's employment with the company and his

or her rights with respect to any funds in

401-K accounts remaining after termination.

Most of these types of accounts have some provision for either rolling-over the 401-K

funds into a new type of investment account or

for liquidating it entirely after employment terminates. Whether the terminated employee gets to rollover the entire amount or keep the entire liquidated amount often depends on whether the employee is vested or, in other words, has spent the required number of years with the company or organization.