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Asked 4/20/2009
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My company is being taken over by another company, so they are ending our 401k program. I have a loan on my 401k plan but do not want to rollover. Will my company pay me the difference by subtracting my loan amount and sending me the remainder or how does it work? |
Answer 1/1 - Submitted 4/20/2009
I would ask the company how they are going to handle 401K. Usually the investment firm in some cases will still keep the 401K until a person reaches retirment age.
Just because a company is going out of business, or being bought out, doesn't necessarily indicate a pay out from a 401K unless you go in a request it. since 401K are handled by investment firms and not the company itself.
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