Boater wrote:
BAR wrote:
Boater wrote:
BAR wrote:
Boater wrote:
Eisboch wrote:
"Boater" wrote in message
...
Ahhh 401k's.... Too bad about those.



That's one of the reasons why many people are having trouble being
forced to ante up tax dollars to
save GM and it's union in their current form and contractual
relationships. The "majority" are watching their own retirement
investments tank, and are concerned about their jobs, their
families, their financial stability.



If you are still employed where your 401k is located and operating,
is there a mechanism to withdraw those funds without withholding or
tax penalty, and put them into another sort of tax deferred
account, some sort of IRA, where you have some say over where the
funds are invested?
I wouldn't trust "the market" with my retirement funds, but I might
trust a federally insurance bank or banks.


Are you that clueless? Do you know what the difference between a
401k and an IRA is?

I guess you should get your buddies in Congress to have a mattress
account in every 401k.


What I was curious about was whether there was an escape valve for an
employee who wanted to get the hell out of 401k's and put his funds
somewhere reliable and rational. That's all. Yes, I know the difference.
Read for content, dropout.

You can participate in the 401k plan or you not participate in the
401k plan. The latter will give you all of the options you want. There
are disadvantages to both plans. But, you get to make the choice.

Does a union worker have an option with respect to the union
retirement plan?

Why has your tone softened?


D'oh. I am referring to those still working for an employer who have
funds in 401k plans and want to get those funds out and invest them
somewhere a bit more reliable than the crooked stock market. I

They can place them in money market accounts or bond accounts. Each and
every 401k plan will have one or both of these.

understand they can decide not to have any more of their funds put into
the 401k. The question was getting those funds out to reinvest them
someplace more reliable.

They can always quit their jobs to get at the money.

The answer to your question about union workers is...many do, some don't.

For those who don't why not? Why are they stuck in a pension plan that
offers them no choices.