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-   -   401(k) withdrawals (https://www.askmehelpdesk.com/showthread.php?t=497426)

  • Aug 11, 2010, 07:31 PM
    kaybay210
    401(k) withdrawals
    Some of my past jobs that I worked at had 401k plans.I want to no who do I need to contact to pull money from my 401k at my past jobs and what info do I need?
  • Aug 12, 2010, 05:53 AM
    ebaines

    Kaybay210 - you need to contact the 401(k) plan administrator to request a withdrawal. The contact information should be provided on your quarterly statements which you receive in the mail (assuming that you've kept your address information up to date). If you don't have any past statements, cal the HR department at your former employer and ask how to contact the 401(k) plan administrator. Be aware that you will have to pay regular income tax (federal as well as state/local if applicable where you live) plus the 10% early withdrawal penalty if you are under age 59-1/2.
  • Aug 12, 2010, 06:21 AM
    ScottGem

    First, please do not piggyback your question on someone else thread this can cause confusion. I moved your question to its own thread.

    Withdrawing from a 401(k) should be a very last resort. Penalties and taxation can put a big dent in what you have saved.

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