I was recently laid off from the company in December. I received a letter about my 401K in CRISP today notifying me that I need to move it or cash out by 03/04/17.
Is a sale of the company approaching?
I don't even know what to do with it, any recommendations would be appreciated. Thank you
Verified that all CRISP participants got the letter. But why? Suspect management is pulling a fast one to gain control of more shares of stock at their lower cost. Then when they sell the company they will make even a bigger bundle.
Note to current Seanagra employees.
Get out of there as soon as you can. You are riding a truck getting ready to plunge over a cliff.
You have been warned.
Question. What city did you work out of?
Take the money and run! SeanAgra is dying and the corpse will be sold within 4 years.
My understanding is that you have to sell the ConAgra and/or Lamb Weston stock by 03/04/17. I received similar sounding notice. Sold what little CAG I had and moved to another fund in CRISP. Based on what I know you can move to an IRA pretty much on your time frame. I was laid of in early 2016. If we have the same notice suggest read it again to verify what I think it states. Hope this helpful.
First, don't worry - they can't take your money back, so its yours.
You can roll over your funds into a Rollover IRA at a bank, Charles Schwab, etc. Open the account at a new place then send the withdrawal forms to CRISP and the money will be in your total control. Tax status remains the same as long as you roll directly to a new Company and not directly to yourself DON"T DO THAT!! LOL