S
scubatbr
Guest
What is the name of your state?I work for a private company here in Utah. I rolled over a large sum of money into my new companies 401k plan. I have worked for them for just over a year now and have contributed to the plan for 6 months
For personal reasons, I have decided to completeley close out and withdraw all of my money out of my 401k account. According to HR our plan does not allow for that and the only way I can get my funds out is to quit. Is this legal? Does a company have that much control over MY MONEY??
Do I have any options besides quitting?
I do understand I will be hit with a 10% penalty and a 20% tax withholding and I am okay with it.
Thanks
For personal reasons, I have decided to completeley close out and withdraw all of my money out of my 401k account. According to HR our plan does not allow for that and the only way I can get my funds out is to quit. Is this legal? Does a company have that much control over MY MONEY??
Do I have any options besides quitting?
I do understand I will be hit with a 10% penalty and a 20% tax withholding and I am okay with it.
Thanks