Discussion in 'FedEx Discussions' started by djkaos23, Oct 23, 2014.
Is there anyway to bypass or override this??
Why do you want to cash it out?
Rollover to a Roth IRA?
No longer a fedex employee.
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.
I may just do that but I need to withdraw something in the meantime. Will that rollover allow me to do that
Roll it over unless you have an emergency. HUGE penalties for early withdrawals.
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
10% penalty plus income tax...ouch
You could probably roll it over and borrow against it.
You can borrow against a 401k but not an IRA.
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.
Probably to settle final,deposits.
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
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.
This isn't rocket science. Call Vanguard to see what needs to be done to get your 401k money.
It would take a few seconds to see if there are any open orders on the account.
Fedex also does a company match. It may take them a little extra time,before they deposit it.
He may also have to refund some of the match. Depending on Fedex's vesting schedule.
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