http://www.ar15.com/forums/topic.html?b=1&f=75&t=1088299&page=1

Her company is failing and she will be out a job soon. Contact the IRS and have your wife start looking for another job.

State attorney general, start searching for a new job, and perhaps the Mo Div of Labor

Bonus points if your wife can manage to get fired and collect unemployment until she can find a new job.

Dont know why the link isn't working for me but be forewarned cashing out a 401k is a major tax slam. I did it when I lost my job last year.

Only a Roth will give a break for hard ship not the 401K.

binder clips work good to told targets in place.  i would say have her take a couple of boxes

The link does not work for me either, but I would not advise anybody in cashing their 401k in. I had to 6 years ago because of a divorce and I lost my ass!

I'll bet it's in Team and that's why it doesn't work.

Oh yea you are probably right....I need to go ahead and become a team member since I am going to be more active on this sight now!

This...

She should be able to roll over her 401k in to another retirement account with no penalty. That might be the prudent thing to set up now for whats coming.

Usually, you can only roll it over once you've left the company.  At that point, it would be a no penalty, no tax burden deal (unless you roll to a Roth.)

Yes, just open an E-Trade account for now and create a "Self Directed IRA" then transfer it there until you find a fund you're comfortable with.

You cannot roll over your 401K while you're still under their employ, unless that employer allows you to.  Some smaller companies will allow this, but with their current situation, it doesn't sound like it's going to happen.

What they're doing is illegal.  They're required to put that money ASAP as it's pulled out of your check.  Not only are they sitting on the cash, but they're sitting on any gains that money (plus the matching amount) would have made YTD.

Companies also make money off their employee's 401Ks through "management fees".  You will not see a penny taken out of your check or the matching, you will only see it in the annual report.  Basically, you're not going to see as much of a return as since chosen fund has it's own fees, the broker's fees (Fidelity, Mass Mutual, etc.), and your employers fees.  So if the actual value of all the stocks cause in the fund go up exactly $1, you might only see the price of the value go up by $0.95, because that $0.05 goes to the fees.

In some cases, these fees compounded have gotten ridiculus.  Remember the guy that shot up that company in North STL?  That's what it was over.  Not only did his 401K go down the drain due to the market crashing, but ABT (sp??) was taking like 8-10%.  I've been trying to get a copy of my company's 401K annual report for a while now......they tell me to call Mass Mutual.  Mass Mutual tells me to call the HR.