a few 401k questions?
a few 401k questions?
ok so i know what a 401k is but i have a few questions
so lets say ur job gives u a 401k then u quit do u still keep the money they gave u??
also if u quit do u have to start another 401k
and do u have to have a job to have a 401k
and when can u take out the money for a 401k ??
also anyother info would be appresiated
Answers:
Chosen Answer
jeff410: If you're vested with the company you work for you get to keep all the money. If you're not vested you get to keep your contributions and the earnings from them. But not what the company contributed, if any, and the earnings from that. You can roll your 401k over from one employer to another. Or to an IRA. You have to have a job to have a 401k Except under special circumstances you have to be 59 1/2 to withdraw the money. Or you pay taxes and a penalty.
2008-08-23 18:31:14
jeff410: If you're vested with the company you work for you get to keep all the money. If you're not vested you get to keep your contributions and the earnings from them. But not what the company contributed, if any, and the earnings from that. You can roll your 401k over from one employer to another. Or to an IRA. You have to have a job to have a 401k Except under special circumstances you have to be 59 1/2 to withdraw the money. Or you pay taxes and a penalty.
2008-08-23 18:31:14