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Oh, like a 401k you can’t earn interest on or roll over if you change employers. Sounds swell!
Employees can stop participation at any time.
Oh, like a 401k you can’t earn interest on or roll over if you change employers. Sounds swell!
Vita is happy to provide copies of all the notices that were provided to you that specifically state what happens to your funds when your employment ends. We can also provide the exact dates and times these notices were provided.
Gil Silberman, Founding Partner, Equity LLP
Answered Sep 11, 2013 · Upvoted by Adam Nyhan, Business attorney
No, generally email does not constitute valid notice unless: (a) you can prove that the person actually got it and read it, typically because they have admitted to it or responded to your email, (b) you have agreed with them in advance that emailing them qualifies as notice, or (c) less commonly, there is a statute on point that says that email notice is okay. It's a poor form of notice, because lots of email gets deleted, lost in people's spam filters, bounces, etc.
If you change employers, they simply steal your balance at any time of the year. This is not disclosed when you sign up.