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8

Some questions to ask your 401(k) custodian: While you have an open loan, can you continue to make contributions as long as you keep up with the scheduled loan payments? Or are all paycheck deferrals treated as loan payments? (The reason this is important is that there is no employer match for loan payments, only for contributions, and lost match could far ...


3

Typically, your employer is able to 'undo' all those activities retroactively - so you would end up as if the issue never happened. They will have to fill some forms for most pieces, and it will be a pain for them, but as it seems to be their fault, they can't really complain. I would expect them to maybe forget about the Social Security part, as it is a ...


3

Can I use this time of ups and downs and trade-war uncertainties to withdraw from 401k? Only if you believe you can time the market. You are hoping you can borrow from the account at the top, and then have most of the payment take place while the market is rising. Also I keep hearing fed rates are low. Will this help my case in securing lower APR ...


2

Yes, Normal. There are situations like yours, either a takeover, or a spinout of a division of a company into a separate entity, in which this occurs. In the cases I've seen, this was not an opportunity to rollover the 401(k) into one's IRA. Employment was continuous (for most, for some it was a matter of being 'unemployed' for a matter of minutes or hours,...


2

Did you roll over your 401(k) to a new provider, or is it still at the employer's benefits provider? With respect to the 401(k), if it's still in their account it's not yet titled to you and the company should have control via their service provider. Did they ask you to withdraw funds from the account for this event? Did they pay you in paper checks or ...


1

That should be normal. Even if you stay with the same company, they might simply change their 401k provider, every year if they want to, because it's cheaper or whatever reason; and you would collect a series of accounts that are all 'from your current employment' and therefore 'not eligible for rollovers'.


1

You might be able to offset the income tax you'd have to pay on the withdrawal, but you're still going to be stuck with the 10% early withdrawal penalty.


1

Just adding on to the points above, I won't reiterate what they said but something you seem to be missing is the massive benefits of the Roth. You SHOULD NOT take money out of your Roth ever unless you are retiring or have no other money left. The reason that the Roth is so powerful is because you have already paid taxes on that money. It now grows much ...


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