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Wondering If i even have a case? fringe benefits, medical premiums, and 401k

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redesterdragon

Junior Member
Hello I am an employee of an SCA contract.
I get health and welfare Fringe Benefits of 3.71 per physical hour worked.
The way my employer has this set up is that 3.71 per hour pays for my health premiums and what ever is left goes into a MassMutual 401k account.
I have been working for my employer since October 5th 2009 and have not received a statement on this account until as of January 1st 2013 when I started going threw the statement which in fact was very vague and confusing I finally got an understanding of what was going on.
one month of work at 160 hours would add up to 593.60 my health premiums are 584.16 which leaves me with 9.44 to go into my 401k account. I have asked to receive the Fringe income with my regular pay and my employer says they can't afford the payroll taxes, if I pursue my own insurance the cash goes into my 401k but I cannot touch it without penalties, and i cannot afford health insurance with my current finacial position i get 10 holidays a year and 10 vacation days a year. if i take these days i would create a deficit over time and end up owning money to my health provider is there anything i can do to fix this situation without leaving the company or paying for medical benefits out of my regular pay?
 


swalsh411

Senior Member
Withdrawl from the health insurance during the next open enrollment period. Withdrawl from the 401k and put that money in a Roth IRA or some other personal investment vehicle.
 

ecmst12

Senior Member
You can't withdraw from a 401k while you are still employed with the company. You can stop FUTURE contributions but you can't move what's already there.
 

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