Fortune 500 company bullies with 401k and other taxes

[Wfbpsc1320445]

Utah resident**
Hello
I currently cashed out my 401k in full after leaving a job, because of them over working me with my medical condition.
I saw an instantaneous drop in my 401k almost immediately after I quit. And a couple months later my bank started messing with me, which was my former employee, about my banking and savings accounts maximum deposits I had to have or I would start being penalized, although i only signed up for the free eMPlayer account.
I was on a Family Medical Leave Act to protect myself and my job do to my disability. They have sent me two letter stating I owe them for paid time off I took that wasn't accured, for over $700. My state requires as well as their company policy that I HAVE to take paid time off due to an FMLA leave.
I have been very flexible to there demands to keep my account open although there was no disclosure what would happen if I quit or that I would be imposed to such penalties because I was an employee set up for free checking.
In order to not endure any more loss, I made the decision to take the tax penalty and cash out my 401k since they stated it was not FDIC insured and could lose value at any time aND was DRAMATICALLY. Although I made numerous attempts to cash out while my 401k, it kept dropping at least $10 a day they and no one was ever available to help me. It took a very long time to meet those demands. I was in a very hard predictment due to my medical condition and medical expenses that I needed to have some help to help oversee these hard times.
Now that I haven't worked there in almost 3 months, I see in my statements that I have a balance of $153 in my 401k that is losing value of at least $3 a day? What I thought that I fully cashed out of my 401k,I now have funds in there?
They have done nothing but bully me and I feel very hesitant and unsure of why those funds are there or if this is a trick for them to try and obtain more money or if I try to get that money out I will endure another penalty?
I thought I fully cashed out in the first place, and how they can bully me if to pay more fees, trick me into paying additional fees when I was protected from a medical leave. I can't help but wonder if there bully tactics were for me to close my account and not see those funds?

Any and all advice would be greatly appreciated as this is a fortune 500 company and I am scared to stand up for myself against these unforseen extra taxes & expensives.

Please help as I cannot afford another big loss more than what this company has already taken from me!

Thank you from the bottom of my heart

 

[cbg]

Sorry, but Utah law does NOT require that your FMLA be paid. Company policy may, but company policy is not law

My guess is that you took the 401(k) distribution before the last contribution had posted. I try to counsel employees to wait, but if there is still a contribution to post after they take their distribution, they're going to end up just as you did - with a tiny little balance.

 

[Wfbpsc1320445]

Thank you for your response.

I had already received my last paycheck. My account stayed at 0 for 3 months until just yesterday? Is this a trap to get me to cash out again for another tax penalty?

 

[cbg]

No, it's not. No one is forcing you to cash it out. That's your decision.

 

[Zigner]

Thank you for your response.

I had already received my last paycheck. My account stayed at 0 for 3 months until just yesterday? Is this a trap to get me to cash out again for another tax penalty?

Even if you get penalized upon withdrawing the small amount, you're not being penalized any more than if you had taken it all out at once. Do the math.

 

[davew128]

I made the decision to take the tax penalty and cash out my 401k since they stated it was not FDIC insured and could lose value at any time aND was DRAMATICALLY.

How is it that you worked at a bank and didn't know that your 401(k) was a retirement plan invested in the market rather than a bank account?