Is it possible to collect sick pay/401k money from previous jobs you've had?
@handsomeitaliano (1050)
United States
September 29, 2008 2:07am CST
You know how all the jobs you've had in the past collected some type of sick pay, 401k, some type of money saving plan? Well since you don't work for those places anymore, is there anyway to collect it and cash it out?
1 response
@poetkelly (79)
• United States
29 Sep 08
It depends on the plan. When I left my old job for medical reasons, I was able to cash mine out, and it's a good thing too, because I had to live on that money for a while. You usually have to pay a penalty for cashing it out early. It's a pretty big penalty, too. I had to pay 10%, I think. Plus you have to pay taxes on it. You should really only cash it out if you really, really need the money.
Kelly
