401 k checks

Discussion in 'UPS Retirement Topics' started by petew, Aug 7, 2019.

  1. petew

    petew New Member

    Has anyone experienced very late 401k checks.Normally take 5 days.Its been 2 weeks. called and they the check is still active.If I cancel and reissue it will take two weeks or more,What should I do?
     
  2. silenze

    silenze Lunch is the best part of the day

    Eat ramen noodles until it shows up
     
  3. upschuck

    upschuck Well-Known Member

    Do they not offer direct deposit? You would of had it by now.
     
  4. Payday loan?
     
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  5. petew

    petew New Member

    No they said they don't have that yet.
     
  6. upschuck

    upschuck Well-Known Member

    Wow, that's crazy.
     
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  7. Maybe move it to an IRA?
     
  8. oldngray

    oldngray nowhere special

    Why would you be getting a check from a 401k?
     
  9. Baba gounj

    Baba gounj Well-Known Member

    I have requested checks from my 401K many times.
    All have arrived on time.
    I bought myself some toys with the funds, I had a long work life and wanted to enjoy my retirement while I'm still young.

    Taxes; between Fed & State withheld & the $10 Fee, I get only 0.749% of the amount I asked for.
     
  10. Thanks Obama?
     
  11. oldngray

    oldngray nowhere special

    I converted my 401k into an IRA when I retired but haven't tapped any of that money yet. My first option would be to get money from non retirement investments that wouldn't take a tax hit. Eventually I will need to start taking money from the IRA but I'm letting it ride for as long as possible.
     
  12. Baba gounj

    Baba gounj Well-Known Member

    My balance was flat during his Admin , it has really taken off under Trump.
     
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  13. Baba gounj

    Baba gounj Well-Known Member

    I don't plan on having the nursing homes get my 401K funds.
     
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  14. Think it's going to be a bumpy year.
     
  15. oldngray

    oldngray nowhere special

    Been a really good year so far so a bit of a sell off doesn't bother me.
     
  16. I'm putting money in, not taking money out.
    Let it ride.
     
  17. Jones

    Jones fILE A GRIEVE! Staff Member

    If your balance was flat under Obama you must have made some pretty awful investment decisions, most folks made a lot of money. Trump's first year was gangbusters but at this point the market has essentially been flat since since Jan of 18, going on 20 months.
     
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  18. retiredTxfeeder

    retiredTxfeeder cap'n crunch

    I've taken money out of my 401k 3 times. Got it with a week each time. I asked them why they didn't offer electronic transfer options, and the guy told me it was for security reasons.
     
  19. And they also charge you $10 Everytime you take money out.
     
  20. retiredTxfeeder

    retiredTxfeeder cap'n crunch

    Yes, there is a handling fee involved. They also offer a faster option, NDA, for an additional charge.