My question involves labor and employment law for the state of: California
I was laid off as a reduction in force. Officially, my position was being eliminated. I was given a severence package and my company 401 (with a brokerage firm) was to be released as I was no longer with the firm. I contacted the brokerage company and they said, yes, they could see I had been terminated. So, they began the process of rolling over the 401k.
Subsequently, I was offered part time employment, for which I would have to apply as a totally new employee (application, credentials, education, employment history, drug test, criminal background check, new employee orientation). I assumed in accepting this offer of part time employment that my 401k funds, which I need to aid the transition would still be available ... partly because it felt like I was being brought on as a whole new employee.
But the company brought me back as the 'same' employee, and now, the brokerage company says I don't have access to the funds. Is there anything I can do to get the funds released. Could they bring me on as a totally new employee? Or do I have to leave the company totally? (which is a little sticky as it might make me ineligible for unemployment).
I was laid off as a reduction in force. Officially, my position was being eliminated. I was given a severence package and my company 401 (with a brokerage firm) was to be released as I was no longer with the firm. I contacted the brokerage company and they said, yes, they could see I had been terminated. So, they began the process of rolling over the 401k.
Subsequently, I was offered part time employment, for which I would have to apply as a totally new employee (application, credentials, education, employment history, drug test, criminal background check, new employee orientation). I assumed in accepting this offer of part time employment that my 401k funds, which I need to aid the transition would still be available ... partly because it felt like I was being brought on as a whole new employee.
But the company brought me back as the 'same' employee, and now, the brokerage company says I don't have access to the funds. Is there anything I can do to get the funds released. Could they bring me on as a totally new employee? Or do I have to leave the company totally? (which is a little sticky as it might make me ineligible for unemployment).
Layoffs and Reductions in Force Rehire
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