401k contribution be deducted from Vacation/Sick Pay catch-up after termination from company?

After 29.5 years I have been laid off. I was hoping from the consideration package and my 10 week vacation pay that my ex-employer can still deduct for my 401k. I would like to get as much into my retirement tax free while I still can.

Also what is the time period I have to turn this company 401k package into a IRA account?




Liked this question? Tell your friends about it

Related Questions

Other people asked questions on similar topics, check out the answers they received:

Asked: 401k

401k Does an employee who is 65+ have to participate in the employers 401k plan?

Asked: 401k end for vesting go by termination date or ...

i was laid off after 1.79 years of employment with a company. the vesting schedule for this account has only one step, at two years it is vested 100% before that mark it is 0%. my former employer has ...

Asked: After paying into a employees sponsered 401k ...

After paying into a employees sponsered 401k plan for 17 years, than becoming disabled after 55 years of age, having to withdraw my complete account, what other benefits am I entitled to. Do I lose my ...

More Questions


Hi Vicki, Your son has every right to ask the administrator or the benefits manager for a copy of the plan summary document. That document governs how the employer and the administrator conduct themselves. If you need help interpreting the document give us a call. Dan


I would refer to the divorce decree as a good starting point. How long has it been since you give your 401K blance over to her? What expenses do you still share with your ex?

401K after 59.5

You can roll your 401K over to an IRA and I would. You will always have to pay taxes you do not have to pay penalties after 59.5. http://hubpages.com/hub/Roll-your-401K-over-to-an-IRA

Which is a better investment: a Roth IRA or a 401(k)?

As a small business owner who recently went through finding a retirement plan for my employees I also had to consider the ira versus 401k debate. To add on to what was mentioned earlier one of the main differences in the two retirement plans is who makes the decisions regarding the plan. I set up a ...