45 day wait to cashout vanguard

Discussion in 'FedEx Discussions' started by djkaos23, Oct 23, 2014.

  1. djkaos23

    djkaos23 New Member

    Is there anyway to bypass or override this??
     
  2. Why do you want to cash it out?
     
  3. UpstateNYUPSer

    UpstateNYUPSer Very proud grandfather.

    Rollover to a Roth IRA?
     
  4. djkaos23

    djkaos23 New Member

    No longer a fedex employee.
     
  5. Dont cash the check,roll It over. open an empty IRA. and do a trust to trust transfer.You could do it directly through Vanguard.
     
  6. djkaos23

    djkaos23 New Member

    I may just do that but I need to withdraw something in the meantime. Will that rollover allow me to do that
     
  7. oldngray

    oldngray nowhere special

    Roll it over unless you have an emergency. HUGE penalties for early withdrawals.
     
  8. djkaos23

    djkaos23 New Member

    I know about the penalties. Makes me not want to touch it. But I've exhausted my funds to a minimum. I need something to hold over for a few weeks
     
  9. 10% penalty plus income tax...ouch
     
  10. STFXG

    STFXG Well-Known Member

    You could probably roll it over and borrow against it.
     
  11. You can borrow against a 401k but not an IRA.
     
  12. vantexan

    vantexan Well-Known Member

    When I quit last year Vanguard rep told me FedEx requires they hold 401k money 45 days before releasing it. Pretty sure you can't do anything before 45 days are up.
     
  13. Probably to settle final,deposits.
     
  14. FUFred

    FUFred Active Member

    BS. I got fired at the end of
    March and had it in my account in mid April. I want to see it was about 3 1/2 maybe four weeks tops
     
  15. vantexan

    vantexan Well-Known Member

    All I know is what I was told. They gave me a specific date I had to wait until. Are you talking about the same thing, the 401k? They cut me a check, didn't allow for direct deposit.
     
  16. vantexan

    vantexan Well-Known Member

    This isn't rocket science. Call Vanguard to see what needs to be done to get your 401k money.
     
  17. UpstateNYUPSer

    UpstateNYUPSer Very proud grandfather.

    It would take a few seconds to see if there are any open orders on the account.
     
  18. Fedex also does a company match. It may take them a little extra time,before they deposit it.
     
  19. He may also have to refund some of the match. Depending on Fedex's vesting schedule.