 Chase banking... a refund hasn't hit my account yet? |
i haven't got my refund in my account from JC pennys and i've contacted them and they say talk to my bank but their closed. it should take this long. right??
it was on the sat. 29... |
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 What are good ways to earn money? |
| Ok I am 12 and I am on summer break. I want to make some money for my family to have a vacation. My grandma is paying for most of it but I really wanna help and pitch in some money..... problem is....... |
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 what does 2500 discount with 5.9 financing mean over 4 years????? |
| Please help! This is driving me crazy! 10 points to the best answer.... |
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 what payment would I need to make to have most of it go to principle? |
| My minimum payment each month on the loan is $127.00. I made a payment of $150.00. Only $33.00 was applied to the principle while $116.04 went to the interest. My total loan is for $4,067.00. W... |
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 Homework Help--Personal Fiances? |
Estimating a Monthly Mortgage Payment. Estimate the affordable monthly mortgage payment, the affordable mortgage amount, and the affordable home purchase price for the following situation
... |
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 Can I have 2 debit cards for one bank? |
| I have a bank account at Wachovia, and checking and savings account. I already have a debit card linked to my checking account. Can I get another debit card and link it to my savings account? I want ... |
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 What do you need to cash a check? |
| I'm 19 years old and a couple of weeks ago I participated in a phone survey where I had to watch a TV show that hasn't premiered, then give my opinion about the show. I made $25. I just ... |
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 Wondering if a bank will consolidate my loans.? |
| I have a car loan/1 student loan/loan from bank and another card company. Its hard to make all of the payments and I have a job but I have better chance of making one payment for all of it together. D... |
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 Money disappeared from my Bank Account, PLEASE HELP? |
| So something strange happened yesterday. I had a bunch of bills to pay and along with those bills i had a pending transaction for AT&T (my internet). It subtracted that from my checking account ... |
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 Does Nationwide automatically send a new debit card for my current account if i cancel my card? |
| I cancelled my card a week ago and a new one hasnt turned up yet. I didnt ask them to send a new one because i thought it would automatically get renewed. Will I need to phone them up to order a new ... |
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 What do you think of the possibility of the bank accepting this offer? |
house was listed april 4th for 179,000
reduced to 171,900
then reduced on 5-21-2010 to 166,900
I offered 150,000 cash.
supposedly there are no other offers.... |
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 What can I do now to retire comfortably? |
| After college I'll be going into accounting, I'm getting an accounting degree, and I'm in my late 20s. I'll graduate college when I'm 30. What can I do now so I can retire ... |
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 Is a 3% currency exchange rate bad? (experienced travelers' advice needed)? |
| I am traveling abroad in about 2 weeks, and I signed up for a visa gift card so I could purchase things internationally with, what I had understood was "no currency exchange rate". However, ... |
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 I have a cheque in my fathers name, can I cash it in? |
I live in Montreal and have an account with RBC bank. My father received a refund in the form of a cheque in his name, but he is not in the country, How can I cash it into my account?
A... |
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| how do you make money fast? |
im only 13 but i dont lyke those garage sales,cans,lemonade stands,or selling stuff any idead except for those
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SeanC | Taking a loan on my 401k...need help? |
I had planned on taking a loan on my 401k to pay for some unexpected expenses. However, my company is being sold and the sale will be complete in July. I have a couple questions regarding this. Once the company is sold I become fully vested for the entire amount in my 401k, including company contributions, correct?? Second, with my old company I could borrow up to 50% of my contributions for the loan. Does that mean once the company is sold and I'm working for the new company I will be able to borrow 50% of my new total because it will actually be my contributions for the new company.
For example, lets say I had $2000 in my 401k. $1000 was my contribution and $1000 from company match. In that scenario I could borrow $500 (half of my contribution). Once my 401k is rolled to a new company could I now take a $1000 loan because I will become fully vested for the whole amount??
I hope that made sense.
Thanks for any help anyone can provide!! |
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Caveat Emptor
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Your company being sold does NOT mean you are automatically 100% vested. READ the existing 401(k) summary plan description (rules). The vesting schedule will be detailed there; so will loan procedures and restrictions. |
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Ghost of Zeuz
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The new company may have different restrictions. In either case, don't take the loan out until after the sale. (Frankly, you should never take a loan from your 401k, but if you will, you will.) |
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Steve D
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Since question 2 rests on the assumptions in question 1, you need to find the answer to question 1. You may or may not vest your original employer's contributions depending on the wording in the Summary Plan Description for the 401(k). There is no inherent right to vest early if a company is sold and in most cases, all that happens is that the original terms are carried over to the new company after a blackout period (unless the new company's 401(k) is more beneficial to you, in which case, most companies will roll you into the new plan).
You should call the Plan Administrator of your current plan to see if they have worked out the details for what happens after the buyout. Do this immediately as you may want to take the appropriate steps soon since the odds are there will be a blackout period starting in July in which you will not be able to take a loan or make changes. |
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