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Showing results for tags '401 k'.
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I think this is correct, but as a sanity check since it seems harder than expect to find authority on this - if a 401(k) plan is frozen, it's still permissible for participants to take out new loans and hardship withdrawals, correct?
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My employer had a 401k plan set up in his office and he is small business owner. He never offered the plan to anyone and actually lied and said at times he didn't have one. He did in fact have one and he is the only one who participated in the plan. He is incorporated so he as an employee was the only was that invested in the plan. I've told him I know and tried to let him make it right and he fails to admit he has it and said it was not set up properly so its not a valid complaint. Its a lie I talked to the person who was his contact with the 401k plan and she explained to me what a safe harbor plan is. What do I do ? How can i report him and make him pay me?
