2007-03-23 12:31:27 · 4 answers · asked by Paul J 1 in Business & Finance ➔ Personal Finance
You can only contribute to a 401(k) through payroll deduction from the sponsoring employer; so, no. Also, contrary to another poster above, you cannot contribute to an IRA from unemployment compensation. Of course, you can contribute to your IRA as long as the total contribution for the year does not exceed either your earned income that year or your contribution limit.
2007-03-23 13:29:53 · answer #1 · answered by Rob D 5 · 0⤊ 0⤋
if you have the money or abilty to send money into that account then do it - but they will not withdrawl 401k from unemployment - because it is supposed to be something to help you when you cannot afford to go without any penny of that
2007-03-23 12:35:22 · answer #2 · answered by Shopaholic Chick 6 · 0⤊ 0⤋
no! then the state would be contributing to your 401K, not you.
2007-03-23 12:34:11 · answer #3 · answered by Kevin B 5 · 0⤊ 0⤋
NO, but if you have income for the year you can look at an IRA.
2007-03-23 12:34:26 · answer #4 · answered by Anonymous · 0⤊ 0⤋