UnThreaded | Threaded | Whole Thread (3) | Ignore Thread Prev Thread | Next Thread
Author: wotstktubi One star, 50 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 75791  
Subject: 401 K Reactivation? Date: 10/29/1999 5:22 PM
Post New | Post Reply | Reply Later | Create Poll . Report this Post | Recommend it!
Recommendations: 0
Greetings All,

About 3 1/2 years ago I lost my job at a utility company. I left a 401K there until last spring when I initiated a direct transfer into a Self-Directed Trad. IRA. I have since continued to get statements from this 401K that I still have eleven dollars and change in there. I have now been rehired by this company and would like to get a 401 K up and running again.

My questions are:

Is this 401K still active being there is a few bucks in it? Can I get back into this very same account and start contributions again? Do I have to do anything with the money already tranferred into the self-directed account? or can that be left alone?

Thanks for the Help.
Print the post Back To Top
Author: Bobbcat Two stars, 250 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 14946 of 75791
Subject: Re: 401 K Reactivation? Date: 10/29/1999 7:26 PM
Post New | Post Reply | Reply Later | Create Poll . Report this Post | Recommend it!
Recommendations: 0


Ask if your plan administrator what the rules are for rehires. Ask to see that section in the Summary Plan Description. If you were previously in the plan, most plans allow reentry effective immediately. (especially since you haven't been gone 5 years).

You can leave the money in the IRA there EXCEPT
if you forfeited Employer dollars....You have 5 years to repay the money you took and then the forfeitures will be placed back in your account.


Print the post Back To Top
Author: wotstktubi One star, 50 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 14969 of 75791
Subject: Re: 401 K Reactivation? Date: 10/30/1999 10:05 PM
Post New | Post Reply | Reply Later | Create Poll . Report this Post | Recommend it!
Recommendations: 0
OK Bobbcat,
Now you have me concerned. What do you mean by forfeited Employer dollars?

Thanks

Print the post Back To Top
UnThreaded | Threaded | Whole Thread (3) | Ignore Thread Prev Thread | Next Thread
Advertisement