pre age 55 401k withdrawal
Does anyone know about the new marketing scheme from a firm in Colorado where they use a court order to force 401k plan administrators to empty accounts as a rollover to an IRA?
This is being done prior to age 55 AND the employee is still working for the company and can begin contributions again. The rollovers are done without tax penalty, apparently it is a “loophole” in the 401k ERISA rules.
Submitted by Bill Broich on Fri, 2016-06-24 19:23