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by qwerty on August 14th, 2009
you should contact the plan administrators
as I said in your other Q
you will lose at leat 30% of vested value
20% to taxes and 10% to the IRS for early withdrawl penelaties
by Rinky Dinky Do on August 14th, 2009
Fork over the taxes plus a penalty to the government (about 40% of what you've saved) and if there's anything left, it'll be yours. Also, be ready for a big fight cause I hear that the plan administrators are refusing to do it
by boogysplit on August 14th, 2009
usually your old employer will send the correct paperwork to you automatically. but I must warn you, there is a close to 60% penalty to cash out....the IRS will feed ya the biggest slice of dick pie on that one bud....good luck...oh, if your old employer doesnt send the stuff to you, just get ahold of the HR department, they should be able to help ya.
by - alluseek - on August 14th, 2009
i'd think you'd get penalized fairly heavily for early withdrawal. Are you sure about this?
What does fully vested mean?
by Answerbag Staff on February 26th, 2011
| 1 person likes this
Do capital gain taxes get cut from 401(k) stocks?
by Answerbag Staff on August 14th, 2010
| 1 person likes this
What retirement plan is compatible with TRS?
by Answerbag Staff on August 11th, 2010
| 1 person likes this
I am 64 years old and would like to use money from my retirement accounts to invest in a piece of real estate. What is my best option?
by Margene_H on February 15th, 2011
| 1 person likes this
Who must pay back for employer 401k mistake?
by mbdew on April 11th, 2011
| 1 person likes this
You're reading I want to cash my 401k in an I'm nowhere near retirement, how do I got about this? Im currently unemployed also.
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Comments
how do I find out who is my plan administrators
by Znicest on August 14th, 2009
you should get statements monthly or quaterly in the mail
if not contact ur former employer
by qwerty on August 14th, 2009
oh yes your right, i know what you mean now
by Znicest on August 14th, 2009