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bmaugeri wrote:
Someone explain why I can't.
Not the rules but what gives anyone the legal right to hold my MONEY

The legal right comes from the fact that you agreed to allow your company to deposit your money into an account for you...and make the deposits into the fund(s) you specified. You also agreed to only have certain limited access to the account... You can easily stop contributing to the account, but you might not be able to get the money out without leaving the company you currently work for...

Addressing some other statements...

Why do you consider it a gift???? It is mostly my hard earned money.

The 401k itself IS a gift. The US government does not have to allow people to invest money in a tax-deferred gives that right as an incentive to get people to save more. The money is still just might not have immediate access to it.

I think this is all a scam to let the banks have more of our money to play with

Did you feel this way in 1999 when the market was booming? Or is this a new feeling now that the stock market has suffered over the last couple years? If you felt that way in 1999, why didn't you stop contributing then?

I suggest you read up on your 401k plan in detail to find out what exactly you agreed to. (IMO, this should have been done when you started and at any time when new info was provided by the company...but you are not alone in ignoring this step.) If you still don't like the agreement - and the tax-deferred savings - then stop contributing.

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