Subscribe (Free) to
Daily or Weekly Newsletters
Post a Job

Featured Jobs

Education Consultant

Pentegra
(Remote / Putnam Valley NY)

Pentegra logo

Quality Assurance Manager

Nova 401(k) Associates
(Remote)

Nova 401(k) Associates logo

Retirement Plan Analyst/Administrator

Compensation Strategies Group, Ltd.
(Remote / Beaumont TX)

Compensation Strategies Group, Ltd. logo

Retirement Plan Administrator

Nicholas Pension Consultants
(Remote / Corona CA / Rancho Cordova CA)

Nicholas Pension Consultants logo

View More Employee Benefits Jobs

Free Newsletters

“BenefitsLink continues to be the most valuable resource we have at the firm.”

-- An attorney subscriber

Mobile App image LinkedIn icon
Twitter icon
Facebook icon

<< Previous news item   |   Next news item >>



Client Changes Mind After Making Contributions, Doesn't Want 401(k) After All
BenefitsLink Message BoardsLink to more items from this source
Aug. 6, 2021

"A client's advisor convinced her to start a 401k plan. She made 2 contributions to it then decided that she didn't want it. I tried to tell her that it will now have to go through the termination process but she's demanding that her contributions be returned to her. Am I wrong? Won't she get taxed and penalized on her such a 'refund'? Or is there another way?"

Please click here to report this link if it is broken (for example, if you see a "404 File Not Found" error message after you click on the link above).
An important word about authorship: BenefitsLink® is providing a hypertext link to the item shown above, but is not the author of the item (unless otherwise specified).
© 2022 BenefitsLink.com, Inc.