paterinick

Yea, sorry this was posted under 401k forum. David and Peter are correct in their feedback and it's great to hear the realistic options. The HARDSHIP distribution seems the best choice but the TAXES paid out are crazy and not even sure that is possible with this plan through Fidelity. Thanks for the 101 in retirement fun!

HR has stated it's up to Fidelity. They have no say in the plan. Fidelity has stated they need a court-order. I "think" the only option would be for a QDRO, which is unfortunate when you are under financial dis-stress. Looking at the amount of taxes you would pay on taking out from the retirement is scary also... Yea, bankruptcy isn't the worst idea but would talk with a financial planner for sure before pursuing that option.

Wife and I would like to get access to our retirement account to pay off debt at this time. Fidelity has stated that the only way to do so would be a court order. QDRO. Is there anything that an attorney can do, as I have one and just needed to know what we would like to file and how. It's a state retirement fund through a university. It was a ASRS fund but got switched to Fidelity. Thanks and I'm not familiar with any of this stuff at all.