Leaving 401K $$$ with company post Retirement

[Pilot2013]

they absolutely can not terminate the plan and make final distributions without spousal consent forms .


As a general rule, married participants must receive the written consent of their spouse prior to taking distribution from a
qualified plan. your spouse must be made aware of any changes .

changing custodians does not require spousal consent but terminating the plan or taking a loan or money out does in most states . i know in ours it does . i went through it .

Not in mine. I have made several "in-service withdrawals" with no notification or consent from spouse.

 

[kgtest]

I compared the fees on my employers 401k plan, along with the investment options, and in the past three companies I've worked for I've rolled over because 1.Fees were higher than Vanguard 2. Investment Options were not as diverse and IMO limiting my growth opportunities


I do realize later in life there could be benefits as mentioned above, but none of mine offer a stable value fund with a rate worth considering.

 

[supernova72]

My megacorp fees are quite low and I'm in index funds for the majority of it. BUT the largest factor in me leaving it the company 401k plan is the rule of 55 like many other posters have mentioned.


In discussion with co-workers not many know of this rule. Others get it confused with "rule of 72t". Lots of things to consider!

 

[growing_older]

Not in mine. I have made several "in-service withdrawals" with no notification or consent from spouse.

Assuming you really do have a spouse and this wasn't a flip comment, then nothing is probably amiss and there will probably be no problems. But if your spouse later wants to contest these withdrawals and claims they were done without notification or consent, then the plan may have to answer to a claim for damages. It's their problem if that ever comes up.

 

[mathjak107]

yep , a plan being terminated for non payment to the custodian is very different from in service withdrawals or even taking money out when the plan exists .

the state take's possession and they cover their butt . they want spouses to know there is no plan and money they have claim to has no custodian looking after it .

 

[John Galt III]

I'm getting 3.0% in a Stable Value Fund in a 401K. I love it.