401K guys

[Cez★]

fgt government

[stonehenge]

[JayBo]

Make mad.
Wants monies

BIONIC

[shootermcgavin003]

wife does 401k retirement but none of the stock bs..........they match hers. one good thing is if she left her job for another that does 401k shit just transfers in.

---------- Post added at 12:07 PM ---------- Previous post was at 12:06 PM ----------

mine is state retirement like juans........its a little different.

[linden]

Originally Posted by JayBo

I have 5800 in a 401k from.when I worked at the bank.
Well I called to cash it out and get my monies and...
My account is in "positive termination". What that means I have no idea. Bit basically, the FDIC took it over once they closed the bank and right now the irs has the accounts frozen

BIONIC

Was the account held at the bank that went under

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[shootermcgavin003]

good question cause usually 401k is untouchable by anything to do with the banks

[JayBo]

no. Is with a company called american funds.
Investment corp.


I also have teacher retirement w the school. I no touch that eva!

BIONIC

[shootermcgavin003]

cant you rollover the other one into your teacher shit

[stonehenge]

Originally Posted by nekkidhillbilly

mine is state retirement like juans.....

[shootermcgavin003]

17 to go

[JayBo]

Can. But want to use some of it .. actually.. I oughta roll it, and mt teacher retirement into an IRA somewhere

BIONIC

[Cez★]

whats this mean?

after you terminate employment, your employer reserves the right to charge your account for your pro rata share of the plans administratoni expenses. regardless of whether your employer pays some of these expenses on behalf of current employees?

pro rata?

[stonehenge]

sounds like a rat that knows what he is doing

[Cez★]

Word

---------- Post added at 09:12 AM ---------- Previous post was at 09:03 AM ----------

also. what would stop me from opening up a private 401k?private as in i take direct charge with my employer having no (i assume) control, say in it? can taht be done?

[lowerc]

Pro rata





Actually I think it just means portion of. similar to prorated.

You can have your own private investments but then you have no chance of getting company match. Also you would be paying into it with taxed income so govt fgts would hold your income tax dollars until you claim it during tax season. If it's deducted from your pay they do it before taxes so you would have more money in the investment than the govt fgts hands.

[shootermcgavin003]

yeah i agree

[stonehenge]

Gov fgts plz go

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[shootermcgavin003]

Originally Posted by Juan!

Gov fgts plz go

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aint we gov fgts?

[stonehenge]

kinda

but not rly

[shootermcgavin003]

i more gov fgt than you actually

[stonehenge]

yeah but i be referring to the govt fgts that tax our moneys and whatnot, you don't tax monies, you dispash so therefore not govt fgt, just work for govt fgts

[linden]

Originally Posted by Cez^_^

now on the investing part. do you decide where to invest and then call up the group handling it for yall? or can yall change it up yourselves? also, who do you guys have your 401k with? id be with john hancock

You can either do your own research and tell them what you want bought. They can also offer advise but sometimes they can ban be driven by their incentives. you can also set up so you can buy and sell on your own online depending who you are with. i dont have a 401k i have a simple ira at a small local firm but i want to close it out and open an online account so i can do my own shit

[Cez★]

Mhmm. Guess I'll open this one up nd ask what will happen when I quit

[shootermcgavin003]

yeah but without tax monies i no get paid

[2005_Silverado]

just get it and dump 3-4% in it. if they match, cool...if not then its ok. Go aggressive with ur portfolio and forget about it. When u quit, u can usually keep contributing or roll it over to ur own IRA/401K or new emlpoyers plan. U can cash it out but ur hit with 20% penalty levied by le IRS....UNLESS u haz undue financial hardship...they haz a test for it and u can claim it if u qualify...or if u buying a home too.