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Lonnie D Mclane Level 1
Although this information is correct, you should consult with an advisor to discuss you complete set of options, and if conversion of your spouses account should be maintained seperate and explore your most appropriate action. In addition, discussion ...(more)
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Lonnie D Mclane Level 1
My recommendation would be to arrange consultation with 2 or 3 advisors and discuss your situation and determine if seperation from you employer plan is an appropriate option, several circumstances may prevail you from rolling over your plan to an IRA, ...(more)
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Lonnie D Mclane Level 1
I am assuming you are actually referring to a Collective Investment Trust, which is often being used in typical 401k plans; if this being the case, and you are at the stage of having to take RMD's, then yes you would need to use asset in this account ...(more)
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It depends on the plan sponsor and administrator. Can you request the funds online? Can you request over the phone? Are there forms to complete? If so, were they completed properly. It has been my experience that 7-10 days is typical. It can be sooner ...(more)
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Samuel, It really depends on the rules laid out in the plan document. You should have access to Summary Plan Description which will say if loans are permitted and in what cases they are permitted. If you don't have the document, contact your HR.
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Jarrett, Are you an employee or business owner? Employees - talk to your HR person to find details on any retirement plan that is available and what the requirements are such as age 21 and maybe employed for a certain amount of time. Business Owner - ...(more)
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You should have received statements on any plans that you were a part of. Also for 401(k) only plan, you have to make a contribution to get a match. Profit Sharing Plans are money from the employer only. I would go back to old pay stubs or W-2s (Which ...(more)
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Nicholas, Your plan documents might allow for a 401(k) loan up to 50% of your 401(k) account but you will have to pay it back. I recommend Reading a Dave Ramsey book.
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Most 401k plans will not allow you to take premature distributions before the age of 59 1/2 if you are still employed. The exception to this is for financial hardship, but credit card debt will most likely not count towards that exemption.
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Not exactly sure what type of plan you are referring to but typically you'll want to enact a "trustee to trustee" type transfer, so you can avoid taxes, when you roll it over.
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Justin, If you have funds in a 401(k) that you deferred or employer contributions that you were fully vested in then the money is this there for you.
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Unless each HSA Bank offers an advantage, two accounts will just complicate things for you. the reporting will be a mess and you might accidentally defer excess contributions and that could be expensive.
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John, I'm sorry for your loss. Often you will need to contact your father's financial advisor or employer with an Official death certificate. If you would like to discuss please email or call 770-954-8823. Sincerely, Stephanie
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Jennifer, I am sorry for your loss. You will need at least one copy of the official death certificate in most cases to see and have access to the assets. Which benefits? Social Security has a website and you can view what they expect to pay and when. ...(more)
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If you are still working there you might be allowed to take a loan from the 401(k). If you take the money completely out of the plan, you will be charged an IRS penalty of 10% and 20% in taxes will be held out for you. The Human Resources Department ...(more)
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