How do I go about getting my 401k if I have been terminated from my job, and how long does the process usually take.
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How Do I
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 rhampton2056 |
How Do I |
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Posts: 1 (07/15/08 06:44:55) |
Last Edited By: 401khelpcenter 07/28/08 20:39:27.
Edited 1 time.
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financialplanner |
How to get your 401K Money Out | ||
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Posts: 1 (07/15/08 08:42:17) |
Call your HR department for the necessary paperwork. It will usually take 1-3 weeks. You can rollover the amount directly into an IRA rollover that you can
open at a custodian such as Schwab, Fidelity, TD Ameritrade etc. without any penalties. If you request a check to be sent out to you and you do not rollover
the amount into an IRA rollover or another qualified plan you will have to pay taxes on the amount plus 10% penalty if you are younger than 59 1/2. This can be
as much as 30%!
www.cathypareto.com |
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rhampton2056 |
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Posts: 2 (07/16/08 07:03:26) |
Thank you Cathy, I have did that and for some reason the corporate office is claiming that they have not recieved my paperwork, and yet the company where I
work swears they sent it in. I have been waiting almost 4 weeks and the problem I believe is that because of a law suit against the company they are not
helping, or doing what they are supose to do. Are there any other steps I need to take before getting an attorney to deal with it.
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