Welcome! | Ask A Question
Asked 11/25/2009
|
My employer cancelled our 401K plan and forced us to withdrawal all money. Is this legal? The title pretty much sums up everything. The company is doing poorly and opted to terminate the 401k plan for employees. Everyone basically had all funds transferred into their individual bank accounts. Is this legal? I'm guessing everyone is going to get hit pretty hard with tax penalties. Are there other options? Thank you in advance for any advice. |
Answer 1/2 - Submitted 11/25/2009
Type your Answer in the box below and post your answer.
I no longer contribute to a 401k plan and withdrew funds. i am over 59 1/2, still working and my employer had to make a 3% top heavy contribution for 2011. what happens to my share of that money?
There already exist a question regarding forced 401k contributions at this website with no answer. i will ask again. my employer has forced myself and my co-workers into a 401k plan that does not provide timely updates. accessing your account requires a fee. according to all i have researched,...
I am in an employer sponsored 401k plan and they do not match or contribute any money toward it. a friend said to me that it is not a 401k plan without the employer matching some percentage of what i contribute. i do not believe the employer has to contribute anything. this is just to settle a friendly...
|
I no longer contribute to a 401k plan and withdrew funds. i am over 59 1/2, still working... |
|
Is my employer stealing from my 401k? There already exist a question regarding forced 401k contributions at this website with no... |
|
Does an employer have to match any amount of money in order for its plan to be called a 401k plan I am in an employer sponsored 401k plan and they do not match or contribute any money toward... |
|
An employer pays your salary on the 15th and last day of the month. on the payday, monies... |
|
Stopping 401k plan by employer Employer will be stopping 401k plan the end of this month. only received notification of... |
|
My prevoius employer removed money from my 401k account, is this legal ? My previous employer removed one third of the money from my 401k account (i did not roll over... |

Ask A Question
Ask a new question about
401k: