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Can I withdraw from a cash balance plan without leaving the company?

My employer recently stopped contributing to the cash balance plan, but left it in place. It earns a paltry amount ( < $100/year per $100k). Is there a way I can remove my money from the plan without leaving the company?

Jun 04, 2014 by Jayson from Brookline, MA in  |  Flag
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Your employer may allow you to transfer the funds to an IRA, you need to check with HR and check what the policy is for transfers.

1 Comment   |  Flag   |  Jun 04, 2014 from Medina, OH
Grant

Almost certainly false unless you are past age 62.

Flag |  Jun 04, 2014 near San Francisco, CA

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I'm pretty sure that as long as the plan is active and you are eligible the funds must stay in the plan until either the plan ceases, you terminate employment, or you've reached the qualifying age. In many 401(k) plans they have a "non-hardship withdrawal" option that allows you to take all of your vested assets out of the plan after age 59 1/2 with no penalty.

Comment   |  Flag   |  Jun 11, 2014 from Indianapolis, IN

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