401k and 403b Plans

I had a client in the same situation. (I assume you are the person who took out the loan on your own 401(k) ) When the rollover took place, the amount of the outstanding loan was deducted from the rollover amount. So the loan was paid off when the rollover was made. As a broad example, if you had a 401(k) with $10,000 in it, and had a loan of $1,000 against it, the rollover would be for $9,000. So, your steps are (1) open a Rollover IRA and (2) contact your 401(k) administrator and ask for rollover paperwork.

Yes, but not until your discharge. If you take money out of a 401K after you file and before discharge, the money is no longer exempt and could be taken by the Trustee. If you take it out after your discharge the money is yours.

No. Loans from 401(k) accounts are not usually reported to credit reporting agencies, so it should not affect your credit history favorably, or negatively.

If you are over 59 1/2 you can withdraw money from your 401k for any reason.

If you are under 59 1/2 you can take a loan on the 401k in most cases.

Ask your 401k administrator about this.

Also, if you were thinking about taking a hardship withdraw to pay off your second mortgage, that isn't allowed. In terms of your house, hardship withdraws are only available to purchase a primary residence or to prevent eviction or foreclosure on your primary residence.

Roth and 401k plans are separate investment vehicles. Roth IRA is offered to individuals who qualify. The Roth IRA has yearly contribution limits, and offers no present tax treatment. The benefit is in the end where the withdrawals are all tax-free (see age requirements for withdrawals without penalty). If a company offers a 401k as a benefit to it's employees, the contributions are usually "pre-tax." Therefore saving the employee immediate tax savings. Also inquire whether the company matches the employee's contributions, which is a great benefit.

Both plans are ideal for a twenty year old to start saving for future retirement needs. You have to compare the tax differences and whether a matching contibution is offered. It is possible to contibute to both. Once again the IRS has income limits to qualify. Create another investment strategy to start saving for your first home.

To have a Solo 401k you have be the sole proprietor of a business, be in a partnership or establish a corporation. Essentially, you need to be self employed;not employed by another. To not have to file tons of paperwork, you should not have any employees except a spouse. If you have other employees, having a 401k becomes more complicated.

generally no. the only type of money that can be put into a 401k are payroll deductions, roll ins from other 401k's, traditional or Rollover IRA's and pensions. If the stock options are in one of these plans, call your plans service center to get your plans rules and procedures. It is rare for stock options to be in one of these plans. Also stock options have no real value until you exercise them (buy the stock).

Yes, but it is possible that Texas MAY deduct from your unemployment benefits that portion of your 401k that was contributed by the employer. Check the Related Link below and the Texas 'office to determine their criteria.

When drawing Florida, attention must be given to its geographic characteristics. Florida is a peninsula, so should be drawn as a roughly long, thin, triangular shape, that can then have details added and changed until the desired result is produced.

Shirley Chisholm is famous for being the first black congresswoman. She was elected in 1968 and represented New York. She ran for President in 1972.

Shirley Chisholm married to Conrad Chisholm in 1949 Shirley Chisholm married to Arthur Hardwick, Jr. in 1977

No, because if you are fired in Louisianna, you can still get a job if it is in another county.

In some states your unemployment benefits would be offset by the disbursement, especially that part of it which was contributed to by your employer. This is generally done in the week received against the week you got benefits.

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This depends on what state you work in. Some are very liberal and others deduct pensions, retirements, Social Security, etc. so you need to contact your own state's employment office to find out what yours would do.

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Some states offset your unemployment by a portion (usually the employer's contribution) and others aren't effected.

No. Distributions from a 401k are unearned income for Social Security purposes, and do not affect the benefit amount you receive under regular SS retirement or SSDI (disability) programs. Only SSI (Supplemental Security Income, a form of welfare) payments are means-tested and offset by either earned orunearned income.

Yes, a 401(k) plan may be seized by a judgment creditor after a civil lawsuit even though you personally are not entitled to take the funds out without a tax penalty. If the 401(k) is seized, you will probably have to pay the taxes and penalties just as if you had taken out the funds yourself and used them to pay the judgment creditor.

If a person decides to quit a job while getting workers compensation, it is best to contact the company to see what policies they have concerning the situation. It is also good to seek legal assistance for any concerns.

You can invest in gold coins, bars or the gold based ETF funds.

There are many different ways they can be set up, and many different vehicles for the funds...but generally: On set up the money put in them is NOT taxed to the employee, although the payroll handling, from the companies side, may be different. (Also certain parts of things like FICA may need to be paid up front). The executive is defferring the income...not getting it now, not getting taxed on it now. When it is withdrawn/paid out, the original salary is taxable as is the investment growth. It is normally all taxed as ordinary income, even though the investment portion may have received a capital gain treatment...however, depending on the exact set up, sometimes the gain and salary can be differentiated and is taxable as each type. The SERP administrator should explain how and why the specific plan your in works.

yes No...not by default -you might have been married 10 years, but spent 9 of those years overseas, living away from your spouse working a $400,000 per annum job, while your spouse taught grade school for $34,000 per year and kept the kids. Do you think you'd get awarded 50% of a school teacher's pension in this case? Slim chance! ..Such is a very often misconception when dealing with the military especially. People think that just because you've been married 10 years that a spouse (usually the wife) *automatically* gets 50% of the man's retirement. This is furthest from the truth. What is true is that once married 10 years, the spouse (usually the wife) qualifies to have her court ordered portion of the retirement check (if anything) sent directly to HER... verses relying on her former husband to give up her share monthly as ordered by the court. You can be married 20 years, and the court award you nothing out of your spouse's retirement. It totally depends on the contributing factors of the divorce, details of the marriage, etc. You can be married 15 years and the court award you only 5% of your spouse's retirement. *Remember... just because you're "eligible" for something, doesn't meant that you'll get it awarded to you automatically in court.

Apparently, the money you put in a 401K Plan and withdrawn would not be deducted from unemployment benefits, but possibly that contributed by the employer may be deducted. It is best to contact the unemployment office and find out for sure. The Related Link below gives more detail. 401K is similar in many respects to pension payments

Has your employment actually been terminated, or are you simply "on furlough" but still eligible to come back to full employment without a re-hiring procedure? Your actual 'employment status' MAY make a difference.

You may have to consult with legal counsel to determine under what grounds your emplioyer is withholding your 401 account from you.

You could call it officially retired from your old job or company since you did take a retirement fund but you continue working.

You could call it semiretired just what ever you want to call it.