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Asked 9/2/2009
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Does 401k cancel out food stamp or/and medi-cal? Food stamp and medi-cal were canceled by 401k? |
Answer 1/2 - Submitted 9/18/2009
Answer 2/2 - Submitted 9/20/2009
In order to be eligible to recieve food stamps or similar aid, you have to show that there are no other assets to pull from to support the family. If you have funds available through a 401k, you will likely be forced to use those funds before being eligible to receive other benefits. The only thing you can do, is provide evidence that the funds in the 401k, are not available to be withdrawn. So, while they may be a long term asset, you have no ability to use the funds.
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