Dont cash the check,roll It over. open an empty IRA. and do a trust to trust transfer.You could do it directly through Vanguard.No longer a fedex employee.
You can borrow against a 401k but not an IRA.You could probably roll it over and borrow against it.
Probably to settle final,deposits.When I quit last year Vanguard rep told me FedEx requires they hold 401k money 45 days before releasing it. Pretty sure you can't do anything before 45 days are up.
All I know is what I was told. They gave me a specific date I had to wait until. Are you talking about the same thing, the 401k? They cut me a check, didn't allow for direct deposit.BS. I got fired at the end of
March and had it in my account in mid April. I want to see it was about 3 1/2 maybe four weeks tops
Probably to settle final,deposits.
Fedex also does a company match. It may take them a little extra time,before they deposit it.It would take a few seconds to see if there are any open orders on the account.