401k Plan Loans

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?

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.

401k loan any success getting around restrictions

feeds@yuku.com (13goal) — Wed, 18 Jun 2008 06:25:34 GMT

I have my 401k through UPS. I knew they had restrictions for withdrawals but was unaware they are also for loans. I spoke with a citibank employee who said UPS is their only company who has these restrictions for loans. When I asked her if there was a way around it she said send in forms from home owners policy denying coverage for the repairs we need on the house. Has any one encountered or heard of a loan being approved this way? Thanks.

I need major help! 18 years old and investing in a 401 (k)?

feeds@yuku.com (shawnnamartin89) — Fri, 06 Jun 2008 09:30:10 GMT

Hi, I am an 18 year old soon to be college student. I recently, recent as in yesterday, was offered employment with US Bank. They offered me a job as a non-exempt 20 hour a week employee meaning I qualify to be a part of the companies benefits packages including 401 (k). I will only be making about $180 dollars a week a figured that if I could invest $40 a month into the plan that it would be an okay start. The company also does a 100% matching program so that after one year of me putting...

401(k) Loan Benchmark

feeds@yuku.com (KMaxeyTX) — Mon, 05 May 2008 08:06:54 GMT

Hello,

I am looking for benchmark information about the percentage of active 401(k) loans for a mid-size plan. We have seen an increase in requests and I am interested in knowing what others are experiencing.

Thank you.

401K Distribution and Payoff

feeds@yuku.com (onlymel) — Mon, 07 Apr 2008 06:16:03 GMT

I will be terminated from my job soon and I have outstanding 401k loan and I have some questions as to what my distribution would be based on the following. I 'm under age 50.

total vested 401k : 120,000
401k loans : 20,000
balance - loans = 100,000
will do a direct rollover of 15K to SEP IRA
Will I be taxed 20% + 10% early w/d fee on the Loan amount?
I don't expect to be taxed on the direct rollover amount
Can I tell my plan to only...

Tax treatment of 401K loan if you die

feeds@yuku.com (dmcpcc) — Sun, 06 Apr 2008 12:26:15 GMT

Hello, What happens to my 401K loan if I die? Does it become taxable or is it a loan offset?

Default -pay or not pay?

feeds@yuku.com (entirelyofficial) — Tue, 01 Apr 2008 14:12:35 GMT

I was recently terminated from employment and have 2 outstanding 401k loans totalling $8000. I have $10000 in my account. 1st rep said - you do not have to pay the loan back. I will need to pay a 20% penalty/ taxes for early distribution. She said that would be deducted from the $10000 in my account and they could send me a check for the remaining amount (cash out) 2nd rep said- I must pay back the $8000, I can request a check for the $10000 then send them back a check for $8000. If I...

IRS 401K loan regulations open to other interpretation?

feeds@yuku.com (WoodPS) — Tue, 01 Apr 2008 07:55:35 GMT

Our 401K Plan allows for only one loan at a time. If someone has a loan that they pay off, they can then take another loan, subject to IRS regulations.
Our Plan Sponsor says the IRS regulations specifically require that you coordinate the new loan with the highest existing loan balance within the last 12 months; deduct that highest prior loan balance from $50K and this is the maximum you can borrow. However, the IRS regulation specifically addresses "first" and...

401k loan payoff

feeds@yuku.com (trobertsforcm9) — Fri, 14 Mar 2008 16:12:14 GMT

With the stock market fluctuations, is now NOT a good time to payoff the balance of my 401k loan?

401k Hardship Withdrawal- TV News Request

feeds@yuku.com (marisatv) — Thu, 13 Mar 2008 12:30:26 GMT

I'm a national television news producer working on a story about 401k Hardship Withdrawals. Have you needed to cash money out of your 401k? Or, are you thinking about it? I would like to speak with you...
I can be reached at mtoccin@newspronet.com.
Thanks!

Old 401k Loan...repayment options

feeds@yuku.com (BCSPaladin) — Sun, 09 Mar 2008 11:27:29 GMT

I had a $25,000 401k loan back in 2001 and only paid back about $5000 before I defaulted. All taxes per 1099 etc have been taken care of years ago.

For sake of question....the unpaid loan amount was $20,000 and accurred interest is $10,000

I want to now repay the loan which I believe (think??) is possible????

Can I pay back $20,000 or $30,000?????

Second part to Question...

The 401k account is with Schwab is "self managed by me"...

401 K default question

feeds@yuku.com (therocker1028) — Mon, 03 Mar 2008 17:34:07 GMT

I received notice that my 401 K loan was defaulted. I never received any kind of warning that I was late on payments or about to default. The plan administrater never provided any kind of monthly statement,etc to notify me of my payment that was due,I just had to remember to pay on a regular basis. It appears that somehow,several of my payments sent were mailed,but never received/and or processed for some reason.I had no knowledge that anything was wrong.
Do I have any legal recourse in...

401K Loan to distribution

feeds@yuku.com (pogden204) — Thu, 28 Feb 2008 14:14:14 GMT

I have a loan and was wondering if I can change it to a distribution and what the penalties would be. I am just over 60 years old and took the loan out after I was 591/2.

company sold 401k?

feeds@yuku.com (ncs3336) — Mon, 25 Feb 2008 19:31:39 GMT

My company has recently been sold, basically we have been all fired and rehired. My question is, many of us have loans thru our current service provider, the new company has a different service provider. Can we just transfer our accounts over to the new company including our loans? Can we leave them with our current provider until we finish paying them off? Or are we going to have to repay the loans or claim them as income on our taxes?

401k loans

feeds@yuku.com (1colvol) — Sat, 16 Feb 2008 06:41:53 GMT

If a loan is taken on a 401k account and the participant is over 59-1/2 and who subsequently retires before the loan is paid back, is there a penalty involved or is the remaining portion of the loan treated as a post 59-1/2 withdrawal?

Putting Entire Paycheck into 401k

feeds@yuku.com (benghee) — Wed, 06 Feb 2008 08:54:53 GMT

I was wondering if somebody could help me explain the following scenario:

I recently placed my entire bonus check into my 401k.

When I looked at my pay stub, there were all kinds of taxes, which surprised me. Normalizing the bonus amount to $10,000 for this discussion, the numbers look like this:

Federal Tax Withholding - 300.47 (taxed on 1,201.89 = 25%)
Social Security Tax - 620.00 (taxed on 10,000.00 = 6.2%)
Medicare - 145.00 (taxed on 10,000.00 =...

defaulted 401k paid penalties and taxes

feeds@yuku.com (kme67) — Sat, 26 Jan 2008 07:52:07 GMT

In 2005 I defaulted on two 401k loans and received a 1099 form for both. The penalties and taxes were paid in 2006 because they were considered disbursements. However, Charles Schwab continues to extract loan administration fees from my account and says they will continue to do so until the loan is repaid. If the default was considered a withdrawal and all taxes, fees and penalties were paid, how can they continue to withdraw administration loan fees from my account and is it legal?