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Asked 12/12/2008
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I will be leaving my job next week and want to get my 401k money. Can I do that? I do not want to roll over the plan, I just want my money. I am 100% vested. I know there are penalties since I'm not old enough, and I know there are taxes, but I just want to close out the 401K. When I leave the job, can I instruct the former employer to pay out the account immediately? |
Answer 2/4 - Submitted 12/15/2008
Answer 3/4 - Submitted 12/19/2008
Answer 4/4 - Submitted 12/19/2008
Yes you should be able to but I'll agree Airget247, it's a bad move but if thats what your sure you want to do and your employer says you can't all you have to do is find out who the fund manager is terminate your employment then roll the money into an individual IRA account that you have control of and you could take it then. But unless you really need it for an emrgency or something it would be more logical to leave it in. Because if your lucky you'll end up with only alittle over 1/2 of what it's worth.
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