Thread regarding Anadarko Petroleum Corp. layoffs

401k

Why is our 401k with fidelity untouchable still? Anyone have a clue as to when we will be able to rollover/withdrawal money? No one can give me an answer when I call HR or fidelity.

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Post ID: @OP+10ZPqOK2

7 replies (most recent on top)

Call,Fidelity directly. If you are 55-1/2, you can move it to an IRA. That is your money, not Oxy’s, Anadarko’s, Conchos or Walmart. YOUR money. Just don’t withdraw it. It’s taxable income.

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Post ID: @bark+10ZPqOK2

It's not untouchable. I moved all of my funds out yesterday in a rollover with one phone e call to Fidelity.

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Post ID: @2rys+10ZPqOK2

Federal prison if Oxy convinces Fidelity and your 401k money disappears. Nevertheless, the CoC intent has been manipulated by Oxy and that may be gone. If you have not been offered a job by now, plan your career fast. They have handed the best jobs or people are interviewing this week.

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Post ID: @2ioe+10ZPqOK2

It’s gone because Anadarko was an Enron pyramid scheme. Your 401k money is frozen because Oxy needed the cash to pay the EC’s $300MM severance. They froze it for a year so they could make the money back when oil prices go up but if they stay below $50 you are screwed. They’ll raid the pensions next. Pray for higher oil prices if you want your retirement money. Or ask All if he can spare a little of his $98MM with you.

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Post ID: @2eps+10ZPqOK2

You can save money but can’t read, not all bad.

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Post ID: @1dou+10ZPqOK2

https://www.kiplinger.com/article/investing/T001-C032-S014-how-a-merger-or-acquisition-affects-your-401k.html

You need to wait until the process occurs.

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Post ID: @1csj+10ZPqOK2

They are assuming you can read the signs on the elevator or news in Insider. Show up to the Voya presentations and the answer has been covered multiple times on each session. In addition, during each of the Oxy townhalls, the explanation was also explained.

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Post ID: @1qgc+10ZPqOK2

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