Join the 9 million people who found a smarter way to get Expert help

Recent 401K questions

I was terminated from my W-2 job in 2014. They told me in

I was terminated from my W-2 job in 2014. They told me in mid-April, but they agreed to keep paying me until the end of May 2014. June 1, 2014 was my termination date. I received my last pay check for commissions earned in May on June 15th. They continued to contribute towards my 401k through my last paycheck. I read today that severance is treated differently for 401k contributions. My question is whether they incorrectly contributed to my 401-k after the termination date. It was for money earned in May so I doubt there is an issue. It was also very little ($73). Thanks.

Read more

Infolawyer

Attorney

Juris Doctor.

39,210 satisfied customers
I believe that I was being terminated but the "standard

I believe that I was being terminated but the "standard protocols" may not have been followed. How do I confirm my suspicions? Also, if I put into a healthcare savings card and have a balance, can I get the remainder refunded to me?JA: Have you documented this or discussed it with HR? We have a 30 day refund policy so you can simply email***@******.*** and they will try to fix your problem or refund your money.Customer: No official documentation, and HR just won't respond to calls.JA: Is the employment agreement "at will," union, full time or part time?Customer: At will healthcare organizationJA: Anything else you want the lawyer to know before I connect you?Customer: How do I know if I have a possible case?

Read more

Patrick, Esq.

Doctoral Degree

18,978 satisfied customers
I have 3 retirement plans, a defined benefit, a profit

I have 3 retirement plans, a defined benefit, a profit sharing plan, and a 401K/PSP. I retired 11/15/16. when do I need to withdrawal money from these plans, December 31 or January 15th? Also must I withdrawal from each plan individually or take on distribution for all three?JA: Have you documented this or discussed it with HR?Customer: I was self-employed and had a TPA who I do not trust his opinion. He said all three plans count as 1 and I could take only taking a small amount as a distributionJA: Is the employment agreement "at will," union, full time or part time?Customer: full timeJA: Anything else you want the lawyer to know before I connect you?Customer: my TPA SAID i ONLY NEED TO TAKE 4% OUT OF THE 3 PLANS TOGETHER

Read more

John

Attorney

Doctoral Degree

8,082 satisfied customers
I am negotiating an offer for a senior engineering position.

i am negotiating an offer for a senior engineering position. The final negotiated SALARY is 125k plus profit sharing. I tried also for additional vacation, sign on bonus, better office --- they would not budge. Anything else in addition to salary and profit sharing that can be negotiated -- I think they want to hire me -- but it is a large company -- and they have internal guidelines on not giving sign on bonus or additional vacation. What eles can I suggest to them as an incentive to hire me.

Read more

Infolawyer

Attorney

Juris Doctor.

39,210 satisfied customers
I am trying to collect a pension from a former employer whom

I am trying to collect a pension from a former employer whom I left in 1991. I have a letter from their Manager of Pension & Savings that indicates what my accrued benefit would be at age 65, however the same letter also indicates that this accrued benefit would be "considered" for immediate lump sum distribution. I have no record of this distribution. I do have complete records of the 401K distribution, and contacted Fidelity for my IRA records for 1991 & 1992 and there is no lump sum distribution. The company is asking me to prove that I did not receive the money. I have contacted the IRS, and my former tax accountant for 1991 & 1992 tax forms to no avail. They should have a record of the 1099R that I would have received if this distribution was made. How do I proceed?

Read more

Law Educator, Esq.

Attorney At Law

Doctoral Degree

112,874 satisfied customers
I am past the age of 55 and have separated from my employer.

I am past the age of 55 and have separated from my employer. I need to withdraw from my pension, but plan to roll most of the money over to an IRA. Will the amount I withdraw be taxed, or the entire balance of the account? Also, since I'm over 55 and separated from the employer, and it is not an IRA account, am I protected from the additional 10% tax penalty?JA: Because employment law varies from place to place, can you tell me what state this is in?Customer: North CarolinaJA: Is the employment agreement "at will," union, full time or part time?Customer: At will and full timeJA: Anything else you want the lawyer to know before I connect you?Customer: no

Read more

LawTalk

Attorney at Law

Juris Doctor

35,158 satisfied customers
I have a solo 401(k) plan (myself as the sole beneficiary, I

I have a solo 401(k) plan (myself as the sole beneficiary, I am self-employed, my company is a sub-S Corp). Until July, 2016, I had the funds with Ameriprise with a third party administrator, Ascensus. Three separate types of money/contributions are in the plan: employer discretionary, employee salary deferral, and employee Roth 401(k) deferral.I initiated a request to transfer the fund (total liquidation) to Vanguard. This occurred, but Amerprise issued a single check for the total amount of the three types of money. Their transfer documents did not include any allocations to the three types of money.Now, trying to get the allocations sorted out, Vanguard says they can't do anything because the funds came in in one lump sum. Ameriprise says it isn't their fault, and Ascensus says they were not consulted when Ameriprise moved the money.I have a tax nightmare on my hands going forward, with three different types of money. The Roth funds, obviously, are not taxable going forward.I am very upset by this, and feel that it must be sorted out now so that I don't incur tax consequences in the future. I'm a few years from retirement and eligibility to start drawing on these funds.Shouldn't Amerprise be responsible for reporting the allocations to the types of money? What is my recourse? Please Help! THANKS!

Read more

Gerald-Esquire

Juris Doctor

6,064 satisfied customers
I was terminated after myself & another employee was accused

Hi, I was terminated after myself & another employee was accused of passing pills. What the employee gave me was 4 pieces of trident gum. We were reported to HR & the plant manager. We were not allowed to offer any explanation, we were guilty automatically. Asked to submit to a drug test @ a outside facility. We both showed up with marijuana in our system. There isuch more yo this story, before and after.

Read more

Patrick, Esq.

Doctoral Degree

18,978 satisfied customers
I have been working in an international school outside the

Hi,JA: Hello. How can we help?Customer: I have been working in an international school outside the USJA: Because employment law varies from place to place, can you tell me what state this is in?Customer: Currently I live in Seattle WA but the school was in SudanJA: Is the employment agreement "at will," union, full time or part time?Customer: Full time and it was't at willJA: Anything else you want the lawyer to know before I connect you?Customer: Can I sue the school for wrongful termination even if it's outside the US ?

Read more

ScottyMacEsq

Doctoral Degree

23,778 satisfied customers
View more employment law questions
In The News