2006-12-24 13:38:16 · 5 answers · asked by dl 1 in Business & Finance ➔ Careers & Employment
This plan was fully vested with no personal contribution at five plus years employment. Plan statements indicate a significant balance, but separation was not on good terms.
2006-12-24 13:46:56 · update #1
If you were fully vested, the money is yours. If you withdrawl the money there will be penalties unless you are over age 59 1/2. To avoid the penalties and 20% backup withholding, roll the account over to another 401K account. The fact that you were dismissed for "illegalities" shouldn't affect the acoount.
2006-12-24 13:47:40 · answer #1 · answered by crazydave 7 · 0⤊ 0⤋
Any money you contributed can leave with you. Any matching funds may or may not, depending on the plan and vesting time.
2006-12-24 21:40:49 · answer #2 · answered by ckm1956 7 · 0⤊ 0⤋
It should not be, because they don't have any control over how much you still have in your 401k. They just wont continue to depsit funds. They should have told you that in your exit interview.
2006-12-24 21:48:21 · answer #3 · answered by ShacklesOff.com 3 · 0⤊ 0⤋
do the paperwork to do a roll over to an ira, then you have severed all ties
2006-12-24 21:47:43 · answer #4 · answered by Anonymous · 0⤊ 0⤋
were you fully vested?
2006-12-24 21:42:54 · answer #5 · answered by Michele L 3 · 0⤊ 0⤋