I recently was laid off and was wondering about my 401k. My employer stopped paying into it way before I was laid off, but I still get mail from them stating its only worth 138.00 what does that mean

I worked on my job 23 years , now I'm laid off can I collect on it or do I hae one

You will have to call the company you worked for, to find out if you have a pension.

Tick

Unless you are of retirement age you can't start collecting. If you have a pension, they are required to send you annually a plan description. I do find it hard to believe someone worked for a company for 23 years without knowing their benefits.

If you are eligible for retirement this should have been mentioned as part of the layoff notice.

First its not a good idea to piggyback your question on someone else's. This can lead to confusion. You should start a new thread. So I've moved your question to its own thread.

It means that there is a balance inn your account. If there is only $138 in the plan I'd ask for a distribution.