Thread regarding Dream Center Education Holdings, LLC (DCEH) layoffs

401K

Had over 2 hour conversation with Fidelity and has of 7pm (EST) they have not been notified of my employment status, which means as of now I can not move my funds.

I was told Fidelity has a process which is to send a request to DCEH for updated employment status. If no response from first they send a second and they also get their client service team involved.

Per Fidelity if they determine that DCEH is not in existence (i.e. Ai/Argosy) they will need to inform the IRS per 401K regulations and the IRS will need to close the DCEH account through legal chanels, which could take forever.

Wanted to know if anyone else is having the same issue?

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Post ID: @YfhYsTy

10 replies (most recent on top)

...although there may be a minimum amount needed in your account in order for you to keep with Fidelity.

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Post ID: @YfhYsTy-2pdp

Matching stopped happening awhile ago but if you became vested then you shouldn't have to do anything. Fidelity is a great company and you can just leave your 401k money with Fidelity. Fidelity just needs to remove the header, after you login, that says DCEH.

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Post ID: @YfhYsTy-2cbb

yikes. . this makes me happy I was laid off at the time I was!

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Post ID: @YfhYsTy-1hzc

Apparently the person i worked with at fidelity today had worked with others from DCEH, they knew exactly what to do, and only needed a few minutes to complete the request for a rollover into an outside ira.

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Post ID: @YfhYsTy-1lvz

Talked to my financial advisor too and she said she would take the two emails we received (one from receiver, other with no message just 4 termination attachments) to provide to fidelity to move the funds. No issues.

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Post ID: @YfhYsTy-1nkr

Weird. Saw my financial advisor yesterday. She did her magic and check is in the mail.

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Post ID: @YfhYsTy-1jjl

I had the same discussion. I emailed Stacy Carter. No response. This was last week. They seem intent to make this as hard as possible for us after all everything they've already done.

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Post ID: @YfhYsTy-1dnw

I'm having the same issue as you... they tried to give me the number they had for the DCEH administrator, but SURPRISE... disconnected. So frustrating.

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Post ID: @YfhYsTy-1deo

Signed into Fidelity today and when I went to look at changing contributions it came up “you can no longer change contributions you are no longer an employee.” (Verbatim)

It did list recommendations for how to proceed.

Getting a professional to look into it with me tomorrow. Hopefully it’ll be an easy transfer out.

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Post ID: @YfhYsTy-1soo

Thank you! I tried reaching out too and but I glad there is somewhat of a process. I guess I will wait it out, smh.

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Post ID: @YfhYsTy-foz

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