401k Teamsters withdrawals

Discussion in 'UPS Union Issues' started by blakerben, Sep 2, 2018.

  1. blakerben

    blakerben Member

    I work in the Oklahoma City Hub and am in the southern region supplement. Does anyone know about taking money out of a 401k early. I had my truck repossessed this past Friday and was wondering if borrowing from my 401k to get it back was an option. I’m going to call the union hall Tuesday, but was looking for any info in the meantime. Been with UPS for 8 years as part time package handler.
     
  2. You can only borrow money for certain reasons. Get your truck repossed isn't one of them
     
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  3. Jkloc420

    Jkloc420 Well-Known Member

    you can take it out if you are going bankrupt
     
  4. Future

    Future Victory Ride

    Lmao ....
     
  5. Jkloc420

    Jkloc420 Well-Known Member

    i want to take all mine out and invest in litecoin
     
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  6. Jkloc420

    Jkloc420 Well-Known Member

    get out of here Barney
     
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  7. Screenshot_20180902-112631.png
     
  8. Future

    Future Victory Ride

    There r ways around this ... trust me ....when I got divorced .... I had 2 pay big money for a attorney ...which I did
     
  9. I'm just showing the rules. If people want to try to be d them, it's on them
     
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  10. Future

    Future Victory Ride

    Settle down cocoa crisp
     
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  11. Jkloc420

    Jkloc420 Well-Known Member

    we were under a different plan 5 years or ten years ago
     
  12. The same question has been asked so many times on here.


    The 401K is a retirement plan not a :censored2:ing savings account
     
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  13. Jkloc420

    Jkloc420 Well-Known Member

    it is a savings account
     
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  14. HEFFERNAN

    HEFFERNAN Huge Member

    If your truck was repossessed, you couldn't afford it.
    Repossession is not a deemed hardship for withdrawing 401k funds.

    I suggest dropping down your contributions or buying a cheaper truck.
     
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  15. Future

    Future Victory Ride

    I am gearing up for the draft ...Namath ... I will win
     
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  16. HEFFERNAN

    HEFFERNAN Huge Member

     
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  17. Jkloc420

    Jkloc420 Well-Known Member

    it will be when he goes bankrupt
     
  18. Jkloc420

    Jkloc420 Well-Known Member

    it really is whatever you want it to be. If your being foreclosed on your house or higher education
     
  19. Future

    Future Victory Ride

    Ya ... but when u get head tackled and beat in the ground .... u better find a way out
     
  20. HEFFERNAN

    HEFFERNAN Huge Member

    Absolutely, if he wants to go that route.
    AIN'T BRINGING THE TRUCK BACK