401k Transfer

[UPSMannn]

Is it possible to transfer or roll my current 401k plan into a Roth or something similar, that will not be penalized, or not have fees for early withdrawl? The fact you have to take a loan out from your 401k, and pay it BACK......Outrageous.

 

[burrheadd]

Is it possible to transfer or roll my current 401k plan into a Roth or something similar, that will not be penalized, or not have fees for early withdrawl? The fact you have to take a loan out from your 401k, and pay it BACK......Outrageous.

It’s not savings account

It’s a retirement fund

Lemme guess another millennial

 

[BootsOnTarmac]

You don't have to pay back a 401K loan. If you stop paying on the loan, the loan will default and the loaner will report the remaining balance to the IRS as taxable income.

 

[IVE GOTTA PACKAGE 4U]

You don't have to pay back a 401K loan. If you stop paying on the loan, the loan will default and the loaner will report the remaining balance to the IRS as taxable income.

If you are still employed the loan payments come put of your paycheck. The only way you can not pay it back is to quit your job

 

[IVE GOTTA PACKAGE 4U]

It’s not savings account

It’s a retirement fund

Lemme guess another millennial

ing unbelievable.

 

[Brownsocks]

Is it possible to transfer or roll my current 401k plan into a Roth or something similar, that will not be penalized, or not have fees for early withdrawl? The fact you have to take a loan out from your 401k, and pay it BACK......Outrageous.

Wow! You better just put it in and leave it because thar sounds like a very bad idea.

 

[IVE GOTTA PACKAGE 4U]

Oops

 

[IVE GOTTA PACKAGE 4U]

*

 

[UPSMannn]

It’s not savings account

It’s a retirement fund

Lemme guess another millennial

You missed the point, you old , and don't know the fine print with prudential retirement through UPS

 

[IVE GOTTA PACKAGE 4U]

 

[Jkloc420]

Is it possible to transfer or roll my current 401k plan into a Roth or something similar, that will not be penalized, or not have fees for early withdrawl? The fact you have to take a loan out from your 401k, and pay it BACK......Outrageous.

you can roll it over if you get another job that gots a 401k

 

[burrheadd]

You missed the point, you old , and don't know the fine print with prudential retirement through UPS

Ah,Contraire Pierre

I do know the fine print

What do ya need to know

 

[trickpony1]

you can roll it over if you get another job that gots a 401k

has

Hope this helps.

 

[Jkloc420]

has

Hope this helps.

it don't i like minez

 

[brownmonster]

Is it possible to transfer or roll my current 401k plan into a Roth or something similar, that will not be penalized, or not have fees for early withdrawl? The fact you have to take a loan out from your 401k, and pay it BACK......Outrageous.

You can roll it into the Roth option within the 401k but would have to pay back taxes.

 

[DriveInDriѵeOut]

You can roll it into the Roth option within the 401k but would have to pay back taxes.

Really?
I called earlier this year and they told me they didn't allow in service conversions.

 

[brownmonster]

Really?
I called earlier this year and they told me they didn't allow in service conversions.

Apparently I heard wrong.

 

[Brownslave688]

You missed the point, you old , and don't know the fine print with prudential retirement through UPS

It's a RETIREMENT account. How hard is that concept to grasp.

 

[Brownslave688]

Really?
I called earlier this year and they told me they didn't allow in service conversions.

Yeah I would love to do that. My first couple years we didn't have the Roth option.