Bankrupt 38 Studios finally unfreezes former employee’s 401(k) plans

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Reckoning MMO

It’s been several months since former Major League Baseball pitcher Curt Schilling’s 38 Studios came crashing down, but the effects are still reverberating through the lives of the developer’s former employees.

GamesBeat just received word that what’s left of 38 Studios, which is currently in bankruptcy protection, finally released the 401(k) retirement savings plans for its former employees.

In May, 38 Studios laid off its entire staff, ended their health care plan, and froze the tax-free retirement-savings accounts. The studio was out of money and already missed several loan payments guaranteed by Rhode Island state.

Now that they have their 401(k) plans, this ordeal is mostly behind 38’s former employees, but it isn’t quite over for Curt Schilling or many of 38’s ex-officers. Rhode Island sued them for financial misconduct, and that trial is likely still months away.

Separate from this, Epic Games announced today that it laid off the employees of Impossible Studios, which was made up of many former 38 Studios employees.