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June 1, 2019
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Can cash out my 401k, plan that terminated by my employer?

  • June 1, 2019
  • 1 reply
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    Best answer by Hal_Al

    Yes, that is your option. However, you can NOT cash out tax or penalty free. That fact that it was terminated is not an exception to the tax rules. 

    You other option is to roll it over to an IRA (or another employer's plan), tax & penalty free and continue to have tax deferred growth.

    1 reply

    Hal_Al
    Hal_AlAnswer
    June 1, 2019

    Yes, that is your option. However, you can NOT cash out tax or penalty free. That fact that it was terminated is not an exception to the tax rules. 

    You other option is to roll it over to an IRA (or another employer's plan), tax & penalty free and continue to have tax deferred growth.

    June 1, 2019
    How do I access it?