I am quitting my job and moving out of country, what about 401k?

Question

I need to know how to get the money from them to my pocket, I realize there will be a penalty cost for extracting funds early but I would like the money, Who do I contact or whom do i need to talk to at my workplace..?

Answer 1

Talk to your HR or payroll person. You'll need to complete a form - some plans let you do this online. They will send you a distribution, minus a 20% tax deduction and a 10% early withdrawal penalty.

Answer 2

Human Resources 1st, Then get a rollover started by opening up an I.R.A. with the type of investment organization of your choice. If you don't know what to do, open one up at your bank, you can decide later. Request that your benefits manager start the rollover by sending you check for the amount with the statement for I.R.A. such and to such to such and such ( account # and destination for you and the I.R.A.) They will mail you the check normally, even on a direct rollover. You will send it to the institution you chose for an I.R.A. in the first place. You must send them a letter (short) of instruction with all pertinent information and what to do. You have at least 60 days to accomplish this and Voila, your done! No penalties etc. Your $$ will work for you under your watchful eye, in the vehicle of your choice!!! Why would you want the money, when your original intention was to save for your retirement future? It will be here faster than you can believe!!!

Answer 3

First, ask the Office Manager, your question, there should be a Benefits Department, if you are in a large office. Start by talking to the Office Manager, you can also call someone
in HR, also referred to as Human Resources.

Answer 4

Contact the HR manager or your account rep if the 401K isn't in house. After you give 40% of the money to the goverment your account rep will let you know how they handle disbursement.

Answer 5

Talk to human resources or call the company your 401K is with.