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Man wants 411 on his 401(k)

December 5, 2011 4:09:58 PM PST
Michael Wilcox had a little over a thousand dollars in a 401(k) plan from his days working for Advanced Internet Technologies in 2003.

Now on disability, he wanted the cash.

"It seemed like the right time to take the money out," he explained. "I could really use the money to pay bills."

But when he contacted the company that manages his 401(k) account, he said he was told he couldn't get his money until his former Fayetteville employer signed off on it. Wilcox said he made numerous attempts to get officials at AIT to send in the proper paperwork.

"Three and a half weeks went by, and she had a document, and she wasn't getting any signatures," he said. "She wouldn't answer my phone calls or messages, so I was getting nowhere."

Frustrated, Wilcox turned to me and we got in touch with AIT. A representative told us she did have trouble getting the proper signatures, but would get on it right away. Wilcox soon got the money he needed.

"I stared at the check a couple of times to make sure it was real - I just couldn't believe it," he said. "I hate to think how long it would take if I didn't get you involved."

Wilcox said he has already used the money to pay bills and expenses.

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