And if so how, or have I lost it. It's been over 5 years since I quit working there.
2006-07-11 21:06:21 · 9 answers · asked by bankster 3 in Business & Finance ➔ Personal Finance
Hopefully you left your funds in a well balanced portfolio that's been compounding this entire time! If you were vested with your company when you quit they would have stopped adding their portion automatically but what was already there would remain there and hopefully grow. Your plan probably has a website (most do), contact your old employer and ask for the information if you don't remember it. If you choose to empty out the money you will lose 1/3 of it to taxes and 10% to penalties.
2006-07-11 21:17:47 · answer #1 · answered by Anonymous · 4⤊ 1⤋
It's still there. Contact the company that manages your 401K for your old company. If you don't have that information, contact your previous employers HR department. However, you'll need to speak with the investment management company to get information about your 401K or to do anything with it. You can request to rollover your money into another 401K that you have with your current employer. You can also get a distribution (pocket the money), but you'll take a penalty and pay taxes on it.
2006-07-11 21:13:00 · answer #2 · answered by chalis913 4 · 0⤊ 0⤋
You need to contact the investment company. Your money is still there. It would be helpful if you can find the account number, but they will help you if you can't. You will probably not be able to add more money to this account, but you can move the money between different facets of the account. You should request a 5-year report to see what it has been doing. If it is not making money, you can roll it over into another type of tax-deferred account, such as an IRA.
2006-07-11 21:13:25 · answer #3 · answered by druid 7 · 0⤊ 0⤋
Yes. You can contact the Investment Company and ask to roll it over to another plan or an IRA. Just be careful because if you do not put it in another Retirement plan within 30 days... you will have all kinds of penalties and taxes to pay. And if you do not plan on rolling it over to a different plan, instruct the Investment company to withhold taxes from your disbursement.
2006-07-11 21:13:12 · answer #4 · answered by Brooklyn 3 · 0⤊ 0⤋
Yes. By law, those funds are yours. Contact the former employer and inquire. There is no penalty for early withdrawal if the funds are transferred into a new 401k, but it must be done correctly or the IRS will get you. Either your former or your current employer can advise.
2006-07-11 21:12:48 · answer #5 · answered by Anonymous · 0⤊ 0⤋
It is still there. Just contact your former employer. You should be getting statements on your account as well...at least quarterly. Please note that if you are under 59 1/2, you should roll it into another 401(k) or an IRA...else you will pay a penalty and the IRS will force withholding of taxes.
2006-07-12 01:42:04 · answer #6 · answered by Rich B 3 · 0⤊ 0⤋
certain it really is a good theory. There extremely are literally not any cons to doing this beacuse it extremely works fantastically a lot an same because the 401k except you may have extra administration over what securities you purchase with the money.
2016-11-01 21:52:17 · answer #7 · answered by ? 4 · 0⤊ 0⤋
Yes you can, but there is a penalty for early withdraw
2006-07-11 21:11:41 · answer #8 · answered by jmatt_inc 3 · 0⤊ 0⤋
It's still there.
2006-07-11 21:08:36 · answer #9 · answered by Anonymous · 0⤊ 0⤋