QUESTION
i need to know if your employer can keep you from getting money out of your 401k
Asked on Jul 30th, 2012 on Labor and Employment - Missouri
More details to this question:
my employer contributes to my 401k - i am needing to take some money out to pay bills my husband and i recently split up and i am needing the money to pay bills that he left me
1 ANSWER
4 Awards
The rules are pretty tight on taking out money from the 401K plan. The plan is governed by a set of rules that the employer or administrator must follow. there has to be a real financial need and if approved, the money is taken as a loan with interest. Talk to an attorney to get more detail
Answered on Jul 30th, 2012 at 11:09 AM