Chronicle finance columnist Kathleen Pender offers these links to previous stuff she's written on what to do with 401(k) plans when you leave a company:
http://www.sfgate.com/cgi-bin/article.cgi?file=/c/a/2007/02/22/BUGT9O8MHE1.DTL
http://www.sfgate.com/cgi-bin/article.cgi?file=/c/a/2007/05/03/BUG58PJQ511.DTL
2 comments:
Good advice. I think the same advice would apply to the "lump sum" retirement payout many people receive from the Guild when they leave. I rolled it into an IRA plan and would urge others to do the same to avoid paying taxes and early withdrawl penalty.
Just a reminder on the lump sum from the Guild it was frozen with the last contract at 1/1/2006.
(The monthly payment is still there to be collected when you retire.) Kathleen Balles in the Guild office is the pension coordinator. Her number is 415-543-2569, email Kathy at: kballes@mediaworkers.org. kr
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