Past employee, never got 401K money

[IVE GOTTA PACKAGE 4U]

If she us not 59.5, aren't there other penalties?

10%

 

[upschuck]

I'm sorry if I lost you..I worked from 99-2002. And I was 19 years old when I got hired. I didn't know much about 401k. To be honest nothing. Now I'm disabled..I was telling someone they said I still get that money..

Yes, it is yours.

 

[Jkloc420]

If she us not 59.5, aren't there other penalties?

nust the normal penalties, 30 percent for state and fed taxes and 10 percent early withdraw

 

[IVE GOTTA PACKAGE 4U]

do you still have any paperwork on it that has a phone number?

It's changed companies since then.

 

[upschuck]

Lol I'm sorry I'm new on here.

He's illiterate, don't mind him.

 

[upschuck]

It's changed companies since then.

She wasn't union

 

[CoolStoryBro]

I'm sorry if I lost you..I worked from 99-2002. And I was 19 years old when I got hired. I didn't know much about 401k. To be honest nothing. Now I'm disabled..I was telling someone they said I still get that money..

Do you recall if you actually enrolled and contributed? Do you remember how much? do you have any paperwork?

 

[zubenelgenubi]

If you roll it into a regular IRA, then you either roll it directly into a Roth IRA and wait 5 years, or wait 5 years then roll it into a Roth (I can't remember which) you can avoid the withdrawl penalties.

From what I can tell a company called Voya manages the 401k for management employees. That could be completely incorrect, but that's what google says. You can try contacting them directly, or talk to another financial services company about doing a roll over. They should be able to handle the details.

 

[Coldworld]

The money has just been sitting in the fund growing for 15 years.... she might be surprised at how much she has in there .. and since she is disabled is there any clause that lets her have the money at a lesser tax... for a hardship?

 

[UpstateNYUPSer(Ret)]

The money has just been sitting in the fund growing for 15 years.... she might be surprised at how much she has in there .. and since she is disabled is there any clause that lets her have the money at a lesser tax... for a hardship?

Yes but it will depend upon the severity of the hardship.

 

[brownmonster]

I'm sorry if I lost you..I worked from 99-2002. And I was 19 years old when I got hired. I didn't know much about 401k. To be honest nothing. Now I'm disabled..I was telling someone they said I still get that money..

Don't you have to be 21 to enroll?