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?

 

Thanks

 

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