My company was recently acquired/merged with another company, and I won't go into the gritty details about the acquisition, but suffice it to say that all existing employees were effectively let go from the old company and re-hired as new employees at the acquiring company.
So, our old 401k has been sitting in limbo more than 2 months now and I'd like to roll it out into an IRA/Roth IRA, but the paperwork to the 401K plan administrator documenting that we are no longer employees is caught up in the firestorm of other merger concerns and keeps getting delayed.
To make this question useful to a wider audience, let's just assume I left the old company under normal circumstances. Is there a legal requirement/deadline for an employer to complete the process to release 401K funds after you have left the company?
Is there any recourse for an employee in this situation?