[finicky]

I have worked at many different jobs over the years and have had money taken out of my pay for 401K. It has been many years since I have had any money come out of my checks for 401K. I would like to know how I can find the money I once contributed so I can use it for other things. I have no idea where to start.

Thanks in advance for any help on where to get started.

Paul

[ScottGem]

You contact each employer where you had 401K contributions deducted. Some employers require that you take a plan distribution when you terminate employment. Others will just let the money sit in the plan until you reach 59 and 1/2. Generally, they will then contact you about starting withdrawals.

If you have money in a plan you should have been getting periodic statements about the balances. Of course, if you have moved without informing the plan, that could explain why no statements.

As for using the money, if you are not of retirement age, then taking the money now would be a mistake. You will incur a 10% penalty as well as add it to your tax liability. Better to take the plan proceeds and roll them over into an IRA.