You can only take a distribution from you 401(k) account if you are no longer considered an employee. If you are temporarily laid off and there is a reasonable expectation that you will be called back to work then you would not qualify for a distribution. If your employment is considered terminated due to lay off then you would be eligible for a distribution of your funds. Even though you are no longer working for the company, you are still participating in the company 401(k) plan.

If you elect to receive your statement electronically, you will be notified via email when it is ready, generally about five business days after quarter end. If you elect paper statement, it will be mailed 15 business days after quarter end.

If you were still employed at the time of death, your account generally becomes 100% vested and would be distributed according to your beneficiary elections. Please refer to your summary plan description (SPD) for additional information.

If you are married your spouse must be listed as the beneficiary on your account unless they sign a form waiving their right. Because the 401(k) is considered a marital asset your spouse is automatically the beneficiary, if you wish to list somebody other then your spouse as the beneficiary they must waive their right to the benefit.

If your plan includes a loan provision, and you are still actively employed, then you may apply for a loan from your 401(k) account. The only portion of your balance that is eligible to borrow is your vested balance. In addition, the plan trustee must give their approval for the loan. Please see your plan's Summary Plan Description to determine if your plan has a loan provision.

In some very specific circumstances you can use money from a 401k to buy certain kinds of credit in TMRS.

You may contact Putnam Investments at 1-877-JIB-401K (1-877-542-4015) 24 hours a day, 7 days a week to obtain account balance information, to change investment funds, or to request a distribution or loan. Remember to have your PIN number available when you call. You may also obtain your account balance online at www.ibenefitcenter.mercerhrs.com. Yes, and it varies by year in accordance with IRS regulations.

In order to view your balance, go to our home page and click on "Manage Your Account." Enter your Social Security Number (SSN) (without hyphens) and your Personal Identification Number (PIN). The default PIN Number is the last four digits of your SSN. You may change your User ID and PIN once you have already logged into your account. Send us a fax with a note explaining you need your PIN Reset. Include your full name, SSN, date of birth, phone number and signature.

Generally, a 10% penalty applies to funds withdrawn before age 59 ½ plus current income tax on the distributed portion. Under certain circumstances, the 10% penalty can be avoided if distributions follow the IRS guidelines found in rule 72t. Contact one of our rollover specialists for more info. Click here.

A 401(k) plan is a defined contribution plan that is a cash or deferred arrangement. You can elect to defer receiving a portion of your salary which is instead contributed on your behalf, before taxes, to the 401(k) plan. Sometimes the employer may match your contributions. There are special rules governing the operation of a 401(k) plan. For example, there is a dollar limit on the amount you may elect to defer each year. The dollar limit is $11,000.

Basically, there are four choices: 1) rolling the money into an IRA, 2) rolling it into a new 401(k) plan, 3) leaving it in the existing plan, or 4) taking the money and paying the tax.

an employee, you are eligible to participate in your employer's 401(k) plan once you have attained the minimum required years of age and have completed the required number of hours of service. These requirements are determined by your employer and may be found in your plan's Summary Plan Description.

A 401 (k) plan loan must bear a reasonable rate of interest similar to the prevailing rate of interest charged by a bank or other professional lender making a loan in a similar circumstance. This rate varies, but it becomes fixed at the time your loan is processed and remains fixed until it is paid off. Generally, the interest rate is the Wall Street Journal prime rate plus 1%. All of the interest is credited back to the participant's account balance.

Taking a loan from your 401(k) may have a negative impact on your account, because your money is being taken out of the market. This may cause a loss of investment gains or dividends. Read More

In many instances, as long as the shares were purchased during the class period. However, you should make sure the Plan is not filing a claim on behalf of all class purchases. If you are no longer in a Plan, ask the Plan Administrator whether you should file on your own behalf. That depends on the Plan of Allocation in the case. Sometimes transactions with gains have a zero recognized claim. We Are ProudWe are proud to be ranked consistently among the top accounting firms in the Delaware Valley.

To get specific information about your 401(k) savings plan participation, visit Your Benefits Resources™ via The McGraw-Hill Intranet or online at http://www.resources.hewitt.com/mcgraw-hill.

Yes. You can open these accounts directly with the fund by downloading an application from the website, calling our toll-free number, 1-800-930-3828 or through any one of the participating brokers.

MATRIX does not require participants to close out their accounts upon ending contract employment. You may therefore either (1) leave your 401(k) account active with Great-West, or (2) close your account and transfer your monies to either an IRA, another qualified 401(k) plan or cash out.

No. Only monies from a participant's prior Roth 401(k) qualified retirement account can be rolled over into a participant's Roth 401(k) account within your Plan.

No. But your participation ensures that you will be on the list of shareholders who are notified of how to claim their share of any recovery. You also have the right to pursue a claim individually, although it may not be efficient for you to do so from an economic standpoint.

No, current IRS regulations do not allow you to transfer funds between these two tax-favored accounts.

No. It is up to you as to how much money you would like to contribute to your Health Savings Account or 401(k), subject to each plan's limits. A Savings Maximizer tool will be available in September to help you plan your savings. After you estimate your potential costs, the Savings Maximizer tool can help you consider how much to contribute to your various savings accounts - for example, HSA, limited purpose Health Care FSA, and 401(k).

The PCA Retirement Plan allows transfers from 403(b)'s and 401(k)'s that you may have had with a previous employer. You will need to contact that employer and retrieve the appropriate forms from them for that transaction.

You may check your account balance at any time at My Choice Plan Account or via the toll free- number 1-866-ID PERSI (866-437-3774). You will need your PIN for access to either. You also will receive an annual statement mailed to your home address. Alternately, you may use the "single sign on" feature by signing in to your PERSI Base Plan and then accessing your Choice Plan without a separate sign on.

In addition to lowering your taxable income, 401 (k) plans offer convenience, flexibility, compounded savings, and the ability to self direct your investments.

Federal and state income taxes are exempt in a 401(k) plan. City or local taxes may also be exempt. Check with your local tax authorities to verify this information.

Deferrals cannot be withheld from compensation paid to employees after termination of employment unless the compensation is paid within 2 ? months after the termination of employment and the compensation represents: Payments that the employee would have received if there had been no termination of employment (e.g., payment for hours actually worked prior to termination of employment or payment of commissions); OR Payment for accrued sick or vacation pay.

You will be able to withdraw your funds based on your individual balances, and the plan requirements, for the following reasons:

The maximum amount an employee can contribute to a 401(k) plan is determined annually. You may be allowed catch up contributions in addition to annual limit, if you are age 50 or older. Refer to "Elective Deferrals" in Publication 525,taxable and Nontaxable Income. The maximum amount applies to an employee's aggregate pre-tax contributions to a 401(k) plan and 403(b) plan. There are several different limits that apply to a 401(k) plan in addition to the overall contribution limit.