401k Help Forum

Required Minimum Distribution

feeds@yuku.com (tututaber) — Sat, 19 Jul 2008 15:21:48 GMT

Does someone who is over 70 1/2 but still an active employee need to a required minimum distribution? Or can the person defer it?

I'm getting conflicting answers when researching online.

homebuyer

feeds@yuku.com (grandma) — Thu, 17 Jul 2008 12:43:18 GMT

I am buying my first home and was told this is one of the reasons you can take out your 401K money with no penalties. How much if any of that is true? My financial advisor is tellinng me I have to take a loan, and then if I go elsewhere have to pay it back with taxes and penalties?

401k use for nursing home care

feeds@yuku.com (tnardyh) — Thu, 17 Jul 2008 10:50:39 GMT

Can anyone tell me if 401k money has to be used for nursing home care as if it were personal assets? I would think it would be considered for retirement income only. Say for example I am put into a nursing home; my plan was to have my 401k money available for my wife to live on if I were to pass. I could see it being consumed very quickly for nursing home fees; thus potentially leaving little for my wife. She does have her own 401k, but not as much. Are there ways to put it into trusts,...

PLEASE HELP! Can i use 401k for eviction

feeds@yuku.com (tashish1980) — Tue, 15 Jul 2008 11:49:57 GMT

I'm stuck. My boyfriend (live together) lost his job and we have an eviction notice if don't pay by 24th of July we're on the street. I looked it all up online finding an article on business week from last year saying apply for a hardship. It said even if employer didn't apply for hardship offering it would be ok with proof of evicition faxed in. We called Mutual of Omaha and they said the employer didn't have the hardship option and that unless he's dead or fired he...

How Do I

feeds@yuku.com (rhampton2056) — Tue, 15 Jul 2008 06:44:55 GMT

How do I go about getting my 401k if I have been terminated from my job, and how long does the process usually take.

tracking a 401K

feeds@yuku.com (jparks) — Mon, 14 Jul 2008 05:11:21 GMT

20+ years ago I works for a company in Atlanta. They have sold out and I have moved a bunch. Wanted to find what the 401 was worth and who is holding it. Do I dig through old files or is there an easier way?

tracking a 401K

feeds@yuku.com (jparks) — Mon, 14 Jul 2008 05:11:21 GMT

Previous Employer Problem

feeds@yuku.com (shana) — Wed, 02 Jul 2008 13:08:40 GMT

I called my previous employer to request that my 401k be rolled over to an IRA w/ another investment company. I was told that I still showed as an active employee, even though I left the company back in 2002. Supposedly this is being "researched," but is there anything else I need to do to get this rolling along and taken care of? Thanks!

Rollover to IRA, or keep in 401k?

feeds@yuku.com (investor) — Tue, 01 Jul 2008 04:51:41 GMT

I left company NotSoGood, and have started working at company ReallyAwesome. The question is whether 1) I should keep my 401k at NotSoGood, 2) rollover the money into ReallyAwesome's 401k (I have started contributing) or 3) rollover the money into an IRA. I ran a quick test, and it seems from a rudimentary compound interest simulation, it doesn't matter what I do assuming the same performance. I know that "assuming the same performance" is really the question.

...

Loan Partial Prepayment

feeds@yuku.com (rayset) — Fri, 27 Jun 2008 10:38:00 GMT

This is something of a multi step question.

Neither my 401k loan documents, nor the company plan documents make any mention of partial prepayments not acceptable by the plan.

The situation - I sent in a sum larger than a couple years worth of payment. In the absence of any declarations, it had not occurred to me that I would not be paying down principle.

The amount was accepted and deposited by the administration firm, but I found out later that they simply put...

2 Plans

feeds@yuku.com (Steve Wendl) — Fri, 27 Jun 2008 07:24:32 GMT

Can a company have two 401k plans for employees? I know they are limited to $15,000.00 a year in contributions.

2 Plans

feeds@yuku.com (Steve Wendl) — Fri, 27 Jun 2008 07:24:32 GMT

Can a company have two 401k plans for employees? I know they are limited to $15,000.00 a year in contributions.

Did not report all assets on Form 5500

feeds@yuku.com (lbz123) — Fri, 27 Jun 2008 04:54:03 GMT

I recently joined a company and have found that they 401k plan holds some stock shares, which they have never reported as a plan asset on the 5500. The plan is very large, so the amount of these shares represent less than 2% of the overall assets of the plan. The shares are in the name of the plan and dividend payments have gone uncashed - the employer has not benefitted from this stock or the dividend payments.

I'd like to take steps to dispose of the shares now and have...

Pension Plan Distributions

feeds@yuku.com (MishyMKE) — Thu, 26 Jun 2008 13:50:43 GMT

Are participants allowed to choose a beneficiary other than a spouse in a Pension Plan? More specifically, can payouts be made upon participant death, to a Trust if the participant is not married? Most pension benefits appear to be paid only to spouses.

401K Survivor death payout

feeds@yuku.com (bdupes) — Thu, 26 Jun 2008 07:17:07 GMT

A friend's father died 10 years ago while she was a minor of 13. She was named as the beneficiary of the father's 401K. Her father and her mother were separated and she lived with her mother. Her mother had agreed and signed papers making the daughter the sole beneficiary of the 401K. At the time of his death, the father had no will. However, her step sister who was an adult contacted the father's place of employment and arranged the payout of the 401K...

ESOP and NUA

feeds@yuku.com (smhbcd) — Wed, 25 Jun 2008 10:47:29 GMT

I have a fairly strong understanding of NUA and ESOP but I can't determine whether there is a time limit to take advantage of NUA after you have left the job. My ESOP is still with my former employer's record keeper. I am interested in taking advantage of NUA. Is there a time frame to do this (i.e. within 1 year)? I have held off because the ESOP market value has dropped significantly and I would prefer to take advantage in the longer term.

How long does an employer have to distribute 401k funds

feeds@yuku.com (First2Ask) — Tue, 24 Jun 2008 16:12:33 GMT

I was under the impression they had 30 days from the end of the current fiscal quarter to return unpaid 401(k) funds to employees whose employment ended during that quarter. I am now being told that there is no legislation on this matter, and my search for the truth is distorted and fruitless.

My balance is not very high, I made more than the sum I am eligible for in 2 months of employment (or in some cases, a single income tax refund). This is not why I quit, but I definitey...

How long does an employer have to distribute 401k funds

feeds@yuku.com (First2Ask) — Tue, 24 Jun 2008 16:12:33 GMT

early withdrawal from 401k - options other than termination?

feeds@yuku.com (gquest) — Mon, 23 Jun 2008 12:46:35 GMT

I have an opportunity to make a real estate investment with my Father that would considerably change my future. Essentially it is buying into an existing holding he has that would result in equity to me of about $400k (over twice the current value of my 401k account) and include a substantial improvement in my monthly cash flow as well.

I recently used most of my liquidity to refinance my ARM mortgage in a declining market (stupid position to put myself in, I know). So, the only...

Early Withdrawal

feeds@yuku.com (TLM) — Sun, 22 Jun 2008 08:08:47 GMT

I am 57 years old and believe I will get lay-ed off this summer. I understand I can withdraw funds without penalty. But are there any restrictions on how much I can withdraw, are there % or dollar amount limitations? Also, do I need take equal payments or can I withdrawal X amount the first year and Y amount the second year?

Thanks TLM