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401k investment after being fired. Do I own it?
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401k investment after being fired. Do I own it?
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A friend was release from their job after 4 years, not vested. I understand 5 years where required to be vested. Are they entilted to the the contribution they made to the 401k?
investment-income
asked 9 hours ago
Lisa CLisa C
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A friend was release from their job after 4 years, not vested. I understand 5 years where required to be vested. Are they entilted to the the contribution they made to the 401k?
investment-income
asked 9 hours ago
Lisa CLisa C
261 bronze badge
New contributor
Lisa C is a new contributor to this site. Take care in asking for clarification, commenting, and answering.
Check out our Code of Conduct.
add a comment |
A friend was release from their job after 4 years, not vested. I understand 5 years where required to be vested. Are they entilted to the the contribution they made to the 401k?
investment-income
asked 9 hours ago
Lisa CLisa C
261 bronze badge
New contributor
Lisa C is a new contributor to this site. Take care in asking for clarification, commenting, and answering.
Check out our Code of Conduct.
A friend was release from their job after 4 years, not vested. I understand 5 years where required to be vested. Are they entilted to the the contribution they made to the 401k?
investment-income
investment-income
asked 9 hours ago
Lisa CLisa C
261 bronze badge
New contributor
Lisa C is a new contributor to this site. Take care in asking for clarification, commenting, and answering.
Check out our Code of Conduct.
asked 9 hours ago
Lisa CLisa C
261 bronze badge
New contributor
Lisa C is a new contributor to this site. Take care in asking for clarification, commenting, and answering.
Check out our Code of Conduct.
asked 9 hours ago
Lisa CLisa C
261 bronze badge
New contributor
Lisa C is a new contributor to this site. Take care in asking for clarification, commenting, and answering.
Check out our Code of Conduct.
asked 9 hours ago
Lisa CLisa C
261 bronze badge
asked 9 hours ago
Lisa CLisa C
261 bronze badge
261 bronze badge
New contributor
Lisa C is a new contributor to this site. Take care in asking for clarification, commenting, and answering.
Check out our Code of Conduct.
New contributor
Lisa C is a new contributor to this site. Take care in asking for clarification, commenting, and answering.
Check out our Code of Conduct.
add a comment |
add a comment |
2 Answers
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Yes. Any contributions you make to your own 401k are yours - irrespective of when the contributions were made.
Contributions made to your 401k by your employer might be subject to a vesting schedule, in which case you may own all, some or none of them - depending on the vesting schedule and period of time since the contributions were made.
answered 9 hours ago
brhansbrhans
4804 silver badges10 bronze badges
2
To sum up: your money is your money; their money isn't always your money.
– RonJohn
7 hours ago
add a comment |
Just because you are fired/quit/retire you don't lose access to logging into the 401K website.
As has been said already you own 100% of your contributions, but you own someplace between 0 and 100% of the companies contributions.
There are two places to look: on the website, and on any documentation you have from the company.
In places where I worked where there was a vesting schedule the account balance page could be configured to show the vested and unvested parts of the account. It can also be seen on a quarterly statement. That would tell you how much is vested, but it might not tell you when you will reach 100% vesting.
Counting years can be tricky. I have known companies to award a year as soon as you reach 850 hours in the calendar year. If you started in the middle of a calendar year you could hit "5 years" by your 4th anniversary.
answered 8 hours ago
mhoran_psprepmhoran_psprep
74.1k8 gold badges102 silver badges189 bronze badges
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2 Answers
2
active
oldest
votes
2 Answers
2
active
oldest
votes
active
oldest
votes
active
oldest
votes
Yes. Any contributions you make to your own 401k are yours - irrespective of when the contributions were made.
Contributions made to your 401k by your employer might be subject to a vesting schedule, in which case you may own all, some or none of them - depending on the vesting schedule and period of time since the contributions were made.
answered 9 hours ago
brhansbrhans
4804 silver badges10 bronze badges
2
To sum up: your money is your money; their money isn't always your money.
– RonJohn
7 hours ago
add a comment |
Yes. Any contributions you make to your own 401k are yours - irrespective of when the contributions were made.
Contributions made to your 401k by your employer might be subject to a vesting schedule, in which case you may own all, some or none of them - depending on the vesting schedule and period of time since the contributions were made.
answered 9 hours ago
brhansbrhans
4804 silver badges10 bronze badges
2
To sum up: your money is your money; their money isn't always your money.
– RonJohn
7 hours ago
add a comment |
Yes. Any contributions you make to your own 401k are yours - irrespective of when the contributions were made.
Contributions made to your 401k by your employer might be subject to a vesting schedule, in which case you may own all, some or none of them - depending on the vesting schedule and period of time since the contributions were made.
answered 9 hours ago
brhansbrhans
4804 silver badges10 bronze badges
Yes. Any contributions you make to your own 401k are yours - irrespective of when the contributions were made.
Contributions made to your 401k by your employer might be subject to a vesting schedule, in which case you may own all, some or none of them - depending on the vesting schedule and period of time since the contributions were made.
answered 9 hours ago
brhansbrhans
4804 silver badges10 bronze badges
answered 9 hours ago
brhansbrhans
4804 silver badges10 bronze badges
answered 9 hours ago
brhansbrhans
4804 silver badges10 bronze badges
answered 9 hours ago
brhansbrhans
4804 silver badges10 bronze badges
4804 silver badges10 bronze badges
2
To sum up: your money is your money; their money isn't always your money.
– RonJohn
7 hours ago
add a comment |
2
To sum up: your money is your money; their money isn't always your money.
– RonJohn
7 hours ago
2
2
To sum up: your money is your money; their money isn't always your money.
– RonJohn
7 hours ago
To sum up: your money is your money; their money isn't always your money.
– RonJohn
7 hours ago
add a comment |
Just because you are fired/quit/retire you don't lose access to logging into the 401K website.
As has been said already you own 100% of your contributions, but you own someplace between 0 and 100% of the companies contributions.
There are two places to look: on the website, and on any documentation you have from the company.
In places where I worked where there was a vesting schedule the account balance page could be configured to show the vested and unvested parts of the account. It can also be seen on a quarterly statement. That would tell you how much is vested, but it might not tell you when you will reach 100% vesting.
Counting years can be tricky. I have known companies to award a year as soon as you reach 850 hours in the calendar year. If you started in the middle of a calendar year you could hit "5 years" by your 4th anniversary.
answered 8 hours ago
mhoran_psprepmhoran_psprep
74.1k8 gold badges102 silver badges189 bronze badges
add a comment |
Just because you are fired/quit/retire you don't lose access to logging into the 401K website.
As has been said already you own 100% of your contributions, but you own someplace between 0 and 100% of the companies contributions.
There are two places to look: on the website, and on any documentation you have from the company.
In places where I worked where there was a vesting schedule the account balance page could be configured to show the vested and unvested parts of the account. It can also be seen on a quarterly statement. That would tell you how much is vested, but it might not tell you when you will reach 100% vesting.
Counting years can be tricky. I have known companies to award a year as soon as you reach 850 hours in the calendar year. If you started in the middle of a calendar year you could hit "5 years" by your 4th anniversary.
answered 8 hours ago
mhoran_psprepmhoran_psprep
74.1k8 gold badges102 silver badges189 bronze badges
add a comment |
Just because you are fired/quit/retire you don't lose access to logging into the 401K website.
As has been said already you own 100% of your contributions, but you own someplace between 0 and 100% of the companies contributions.
There are two places to look: on the website, and on any documentation you have from the company.
In places where I worked where there was a vesting schedule the account balance page could be configured to show the vested and unvested parts of the account. It can also be seen on a quarterly statement. That would tell you how much is vested, but it might not tell you when you will reach 100% vesting.
Counting years can be tricky. I have known companies to award a year as soon as you reach 850 hours in the calendar year. If you started in the middle of a calendar year you could hit "5 years" by your 4th anniversary.
answered 8 hours ago
mhoran_psprepmhoran_psprep
74.1k8 gold badges102 silver badges189 bronze badges
Just because you are fired/quit/retire you don't lose access to logging into the 401K website.
As has been said already you own 100% of your contributions, but you own someplace between 0 and 100% of the companies contributions.
There are two places to look: on the website, and on any documentation you have from the company.
In places where I worked where there was a vesting schedule the account balance page could be configured to show the vested and unvested parts of the account. It can also be seen on a quarterly statement. That would tell you how much is vested, but it might not tell you when you will reach 100% vesting.
Counting years can be tricky. I have known companies to award a year as soon as you reach 850 hours in the calendar year. If you started in the middle of a calendar year you could hit "5 years" by your 4th anniversary.
answered 8 hours ago
mhoran_psprepmhoran_psprep
74.1k8 gold badges102 silver badges189 bronze badges
answered 8 hours ago
mhoran_psprepmhoran_psprep
74.1k8 gold badges102 silver badges189 bronze badges
answered 8 hours ago
mhoran_psprepmhoran_psprep
74.1k8 gold badges102 silver badges189 bronze badges
answered 8 hours ago
mhoran_psprepmhoran_psprep
74.1k8 gold badges102 silver badges189 bronze badges
74.1k8 gold badges102 silver badges189 bronze badges
add a comment |
add a comment |
