Brief history: Worked for company A for about ten years, company B buys company A about 5 years ago. Started 401K with company A in year 1 of employment. 401K from company A transfered to company Bs 401K in 2006. Currently still employed with company B.
Now looking to make a hardship withdrawl from 401K based on home in danger of forclosure (not nessarly going to cure mortgage since it was discharged) but rather will use funds for new home.
Acording to company Bs 401K admin one can only withdraw funds that where "elective deferals" meaning funds that I contributed to my
401K,OK fine by me. However now company Bs 401K admin is saying that I have zero funds for a hardship because they have no records of what I contributed prior to them buying and merging company A and they have no way of proving how much of current balance is from elective deferal. Now if I had some old pay stubs this would take care of the issue but I do not have anything over 3 years old.
When my 401K plan transfered from company As plan to company Bs plan that amount was in the $45K range so the way I see it this is the amount that I contributed to the plan.
So it goes without saying that I cannot just acept company Bs 401K admins desision that I have zero funds for a hardship withdraw.
So does anybody have any ideas as to how I should proceede? What would you do?
Thanks!
Now looking to make a hardship withdrawl from 401K based on home in danger of forclosure (not nessarly going to cure mortgage since it was discharged) but rather will use funds for new home.
Acording to company Bs 401K admin one can only withdraw funds that where "elective deferals" meaning funds that I contributed to my
401K,OK fine by me. However now company Bs 401K admin is saying that I have zero funds for a hardship because they have no records of what I contributed prior to them buying and merging company A and they have no way of proving how much of current balance is from elective deferal. Now if I had some old pay stubs this would take care of the issue but I do not have anything over 3 years old.
When my 401K plan transfered from company As plan to company Bs plan that amount was in the $45K range so the way I see it this is the amount that I contributed to the plan.
So it goes without saying that I cannot just acept company Bs 401K admins desision that I have zero funds for a hardship withdraw.
So does anybody have any ideas as to how I should proceede? What would you do?
Thanks!
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