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Financial Planning / Foolish 401(k)s


Subject:  Re: Do I really have to wait 1 yr. to contribute Date:  12/14/2001  10:40 AM
Author:  JDOyster Number:  13886 of 26346

I am considering a new job and I would have to wait the standard one year before becoming eligible to participate in the 401.

Did you ask the potential new employer? Not all plans have a waiting period before you can participate, or it might be shorter.

can I negotiate this with the potential employer?

Alas, no. The 401k plan document rules the plan, and exceptions are basically impossible.

Your best bet would probably to be to negotiate for a few $K signing bonus to cover the taxes and then save what you would have put in your 401k in a regular ol' taxable account. Not perfect, but it'll get you most of the way to where you want to go.

Good Luck,
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