Is the employer required to contribute to a 401k Plan when the employee is deployed by the military?
96860
They will not credit the 3% because you are not currently earning a paycheck from them and your position has been outsourced.  I would contact your Human Resources department and ask them.  They will have all the corporate policy on these matters.  Good luck and thanks for serving.
120957
It just depend what type of 1099 you have. If you worked them you need to do a schedule c and schedule se if you have a gain on your job. If its a pension or a 401k that you took out early you have to figure the additional tax on the plan, which is 10 percent of what you took out.
559918
Yes. They have a right to replace a worker that is not committed to the business. Now, an employer cannot fire a National Guard or reserviist if he hired them knowing they were. But, if you decide while employed to join military, you're on your own.
117375
Contact your former employers H.R. department.  They should be able to tell you who their 401k carrier is or was during your time of employment.
797665
It makes sense to have them in one spot so that you can easily manage all of the funds and choose an appropriate asset allocation for your needs.  If your current employer has a 401k that you are eligible for, it usually makes sense to roll it over to your current employer's plan since you cannot roll funds out of the plan that you are currently in until you terminate employment or retire.  \n\nIf you are not eligible for the 401k at your current employer, I reccomend opening an IRA at Vanguard.  I work for a direct competitor of Vanguard, but I still believe they have better solutions for individuals (I know, I should go work for them).   \n\nIf you are not a saavy investor, make it easy on yourself by investing in an "Asset Allocation Fund".  The Vanguard funds are called "Target Retirement 20xx".  You choose the year that is closest to the one in which you will retire.  The fund manager wraps many funds into a single Target Retirement investment that is suitable for someone who is retiring in that particular year.  Lets say you intend on retiring in 2035.  Choose the Target Retirement 2035 fund.  As we get closer to 2035, the investment gets gradually more conservative.  Many fund houses have similar types of investments.  These are hands down the best investments for people who don't want to waste their time picking out individual funds that suit their needs.  \n\nGood Luck
434245
consult your employer or 401K manager
88638
Absolutely not. some large employers, as a matter of policy may pay you some or all of your salary for some period of time.\n\nMost civilian employers support their servicemembers by holding positions for them, while some even maintain insurance benefits. The better the relationship these deployed citizen-Soldiers maintain with their employer, the better their reintegration is likely to be upon returning to their civilian jobs.\n\nthe only legal requirement is tha they not discriminate under the guidelines of the Uniformed Services Employment and Re-employment Rights Act. This act provides strict guidance for both servicemembers and employers. Some employers choose to go above and beyond what the act requires.
611435
Your company's 401k plan is a separate entity, apart from the company itself. Whether the new company will continue the plan is a question you need to ask your HR dept (or the new company's HR dept.). There is no requirement that they continue the old plan.\n\nYou should also check the plan's SPD - Summary Plan Description to see what it says.\n\nIn any case, the money would not revert back to the company.
126578
OPM is right. Don't confuse the type of account (401k in this case) with choosing an investment mix. I help businesses design and implement retirement plans and as OPM said, you are limited by the plan your employer chooses. That doesn't mean you should put your money elsewhere, especially if your employer provides any kind of match.\n\nFirst rule of retirement investing: If your employer is going to give you free money, TAKE IT!\n\nIf you work for a fairly large and/or sophisticated employer your 401k may have a Self Directed Brokerage option. If available, this option will allow you to bypass the menu of investment options within the plan with at least a portion of your assets. Ask your employer for the details on the plan available to you.
590057
It depends upon the terms of the plan.  Pensions are a special breed.  ERISA protects anything contributed by you and you may be entitled to some or all of what the employer has contributed.  However, pensions do not work like 401(k) plans.  Likewise the vesting rules are part of the Internal Revenue Code and not ERISA.  The rules for vesting can be as long as 10 years in some cases though that type of cliff vesting as it is called has become rare.  More common is a minimum of five years of employment for pension vesting.\n\nLikewise, if the plan is not qualified under the Internal Revenue Code, then the employer receives no tax deduction until paid, but is free to vest anyway they like.\n\nAlso, pensions I believe can restrict access to the funds until retirement.  You could receive it as a monthly check when you retire.  You could also receive now the present value of the future benefits.  It isn't likely to be much.\n\nIf you are 30 and entitled to lifetime benefits at age 65 at a rate of $100 per month, you are likely entitled to only $1075 today.  Involuntary or voluntary does not matter, unless you had died or were disabled.  Pension benefits only become valuable near retirement.\n\nERISA protects money you have paid in, the IRS code probably protects some or all of the employer contribution, but that protection does not necessarily mean you can access the funds before retirement.  Likewise, if you are married, you may be restricted from accessing the funds since pensions protect both spouses income for life.  Congress does permit spouses over 35 to waive their rights to the money.  It isn't binding on spouses under 35.\n\nThe answer is in your pension plan document.  It is the binding contract with participants and the plan trustee.  The Department of Labor people are nice and quite helpful, but they won't be able to help until you are sure they are breaking the rules.  It is unlikely that an employer would do that as the sanctions are high.  Read the document, it is a legal document but it is reasonably straight forward.  Also, HR should have provided you with all of this information at the exit process.
215427
The answer is really up to your past employer, or more correctly the company that administers that old 401(K).  Contact them to find out their rules.  Usually, there is a deadline, which is by the end of the fiscal year in which you leave the company.  But you really should call them and get the answer in writing from them.\n\nBest of Luck.
14399
IF you're discussing 401(k), according to the IRS, the limits are as follows:\n\nContribution Limits:\nEmployee - $14,000 in 2005, $15,000 in 2006.  If the employee is aged 50 and over, an additional “catch-up” contribution is allowed.  The additional contribution amount is:  2005 - $4,000 and 2006 - $5,000.\n\nEmployer/Employee – The lesser of 25% of compensation or $42,000 in 2005 ($44,000 in 2006).
533752
Yes.\n\nFirst of all, a rollover to another qualified plan or IRA is always without penalty or taxes, that's what a rollover is by definition.  The penalty applies when you take a DISTRIBUTION from the plan, not when you roll it over.\n\nSecondly, the age in question is 59 and a half, not 62.\n\nThird, in most cases, you'll need a triggering event, which is usually leaving your job.  Every plan is different.  In some, the triggering event is simply turning 55, at which case you can take your momney out while you're still working there.  All future contributions still would go into the plan.  Other plans allow for non-hardship in service withdrawals, which need no triggering event at all.  You can roll over your exisiting plan amount to an IRA, and again, your future contributions would still go into the existing plan.  Check with your HR department to see if your company allows this.  Hundreds already do, and more are writing it into the plan document every year.\n\nSo, in many ways, your answer is a resounding YES.\n\nHope this helps!\n--J.
363169
The answer to this question depends on the plan documents that created the plan. Typically an employee can keep accumulated balances in a 403(b)when leaving employment with a qualified employer. However since all the funds are employer contributions you should check the plan document to see what the vesting rules are, if any. Since you say that you have been employed in Higher Ed for a quite some time its likely that you have satisfied any vesting requirements. Your employer can also give you this information.  \n\nRollovers of 403(b) contributions are usually governed by the plan documents that created the 403(b). It can be difficult to roll the funds over into another qualified 403(b) plan. You cannot roll a 403(b) in an IRA or a Roth IRA.
1103584
Contact the employer or the company that administers the plan or the union.\n\nNote that there are 2 types of pensions:\n\nDefined benefit plans guarantee a certain monthly income at retirement based on things like years of service, income while working, etc.  The value of these accounts would be something like if you stop working now and start getting checks at age 65 your monthly payment will be $2,000.\n\nDefined contribution plans are a promise by the employer to put a certain amount into the account.  The monthly checks at retirement depend on how much the account is worth when the payout starts.  These accounts have a cash value so the value would be an actual dollar amount.
47773
For a 401K, unless it's for a true hardship, you will pay a stiff penalty.  Check with your plan administrator but I believe it's around 25%, plus you will have to pay taxes on the amount if if was on a pretax plan and lose the the money's ability to work for you in the inventment.  Unless you have absolutely no other option, it's really best to leave the money alone.  You'll be glad you did later.
1080412
Wow, that's a tough situation... It is very possible that the 401k got lost in the shuffle, and sometimes in buy outs, they will get dropped or payed out at that time. Other wise I would advise you to get in touch with the current companies human resources department, if your husbands 401k exists, they should know either where it is or who to talk to in order to find out. Good Luck!