Jennifer, John’s answer explained the rules. Rich’s answer explained there are other options, and and Courtenay’s answer correctly explained what your company can do to make the plan better, specifically adopt a ‘safe harbor’
Steve, you can take money out of the 401(k) plan now without a penalty because you are separated from the company, but you’d still have to pay income tax.
They can encourage you to roll your money out of the plan, but unless
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