5 Ways to Protect Your 401(k) if You're Laid Off

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The latest Wiki-Autposter and Xrumer forums are out!

XRMSEOs of VA 9:49PM November 11, 2011

Compound interest? At less than 1% with maintenence fees only Dracula will live long enough to benefit. Put it under the mattress.

gregbo of IL 1:07PM October 08, 2011

I see this as a matter of personal responsibility, not just leaving it alone and hoping things work out. This is too important. Always know what your options are, where your money is, and keep good records. You've GOT to look out for yourself.
Mike
www.protect-my-401k.com

Mike of TX 6:11PM November 25, 2010

If you don't get it out NOW Obama's collapse will take it ALL later. MOst of the actual "money" deposited in 401k's is ALREADY stolen. Only the early bird gets their worms back. Congress is ON RECORD talking about raiding/changing 401k monies. Our 401k's are the last piles of money left to steal. They WILL be coming after it. GET IT OUT NOW

B of CA 12:31AM August 08, 2009

401 ARTICLE

RANDY SNYDER of KY 5:44PM June 25, 2009

Taxes are going to go up much more than a 10% penalty plus whatever interest you make from it. The interest will be taxed at a higher rate too.
It's better to take the money and diversify it into non-paper assets.

Bozo of GA 7:43PM April 11, 2009

you can go to this site to see if they can help you out
http://www.pbgc.gov/media/key-resources-for-the-press/content/page14802.html

john of MA 11:02PM February 09, 2009

You can find out more from this link
http://www.irs.gov/publications/p575/ar02.html#en_US_publink10004541
Additional exceptions for qualified retirement plans. The tax does not apply to distributions that are:
From a qualified retirement plan (other than an IRA) after your separation from service in or after the year you reached age 55 (age 50 for qualified public safety employees),
From a qualified retirement plan (other than an IRA) to an alternate payee under a qualified domestic relations order,
From a qualified retirement plan to the extent you have deductible medical expenses (medical expenses that exceed 7.5% of your adjusted gross income), whether or not you itemize your deductions for the year,
From an employer plan under a written election that provides a specific schedule for distribution of your entire interest if, as of March 1, 1986, you had separated from service and had begun receiving payments under the election,
From an employee stock ownership plan for dividends on employer securities held by the plan,
From a qualified retirement plan due to an IRS levy of the plan, or
From elective deferral accounts under 401(k) or 403(b) plans, or similar arrangements, that are qualified reservist distributions

john of MA 10:24PM February 09, 2009

I'm 66 years old. During my 15th year with my company (shortly before turning 65) I came down with a serious illness and was placed on disability while I was undergoing treatment. While I was in the hospital, my company laid me off and and within 6 months they had claimed bankruptcy. They asked that I transfer my 401K. I put it into a 7-year-annunity, however, since then, Ive heard an annunity is a bad investment. It made $10,000 in this last year (2008), however the interest rate will go down each year, but is guaranteed to never go below 3.5 percent or I can reinvest. I can take out 10 percent pear year without penalty if I need it. Can you explain why it was a bad investment? It's with Symetra and purchased through Washington Mutual.

Dee Nelson of CA 1:11AM January 29, 2009

ok... What if you work for a company and I want to roll over my 401K into an IRA. The company is saying we don't have the option to take it out and it keeps losing $$$$. So far I have lost over $8000.00. I understood that if an employee gets laid off and submits the paperwork to roll the funds over then they should cut a check at the request. They won't release the funds and it keeps losing money even though I'm no longer employed there. Why can't I get my 401K out before it gets to ZERO?????

Chuck of TX 4:50PM January 22, 2009