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Home > Money & Services > Other Money & Services   »   closing a 401k while still working for company

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Old Nov 30, 2007, 02:10 PM
lilacs
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closing a 401k while still working for company

My husband has a 401k that he started a few years back. He stopped adding any money into the account and last year he tried to close it so that we could buy a car. The company that the 401k is with told him that he can't close it while still working with the company and can not even take a loan out. They told him that the only way he can get the money is to quit his job and then close it then. Can he close the account while still working with the company.
We really need a car as our 6 year old is handicapped and we can no longer take her to therapy.


Lilacs

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