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Kenna · 08-27-2012, 02:30 PM

after two hours on the phone with HR and the retirement customer service unit...and countless hours pouring over my HR paperwork and "welcome packets"...

I just learned that I don't have a 401k like I've thought I've had all along.... instead it's a 401A... when I heard that and learned that I can't have a hardship withdrawal or loan and I can't touch it at all... or even roll it over if/when I leave before retirement, I was FURIOUS!! a MANDATORY 200$ out of every paycheck and I can't touch it unless I'm dead and it gets assigned to my beneficiary, I'm completely unable to work for more than 60 days, and then it's only 50% of my benefit... or retirement age. Then they say that my benefits aren't based on the amount I have paid in... it's based on service credits and that (these are their words) someone with a higher rank than me gets more money upon total disability or retirement. So, basically, I'm paying for the Directors and higher ups to go retire on some island and travel the world...

Trust me, the more things add up... the less I want to stay at a job where I'm paying THEM for the privilege to work FOR them...

Nice

Where's my old signature line about plucking my feathers?

08-27-2012, 02:30 PM	#768
Kenna Senior Member How Do You Identify?: Fiery, Sassy, Tough As Nails, Femme Tomboy Preferred Pronoun?: She Relationship Status: I am your favorite hello and hardest goodbye. Join Date: Nov 2009 Location: NC & CO Posts: 4,806 My Photo Gallery Thanks: 4,624 Thanked 12,195 Times in 3,779 Posts Rep Power: 21474856	I've NEVER thought of loaning or needing to loan against a 401K... but after two hours on the phone with HR and the retirement customer service unit...and countless hours pouring over my HR paperwork and "welcome packets"... I just learned that I don't have a 401k like I've thought I've had all along.... instead it's a 401A... when I heard that and learned that I can't have a hardship withdrawal or loan and I can't touch it at all... or even roll it over if/when I leave before retirement, I was FURIOUS!! a MANDATORY 200$ out of every paycheck and I can't touch it unless I'm dead and it gets assigned to my beneficiary, I'm completely unable to work for more than 60 days, and then it's only 50% of my benefit... or retirement age. Then they say that my benefits aren't based on the amount I have paid in... it's based on service credits and that (these are their words) someone with a higher rank than me gets more money upon total disability or retirement. So, basically, I'm paying for the Directors and higher ups to go retire on some island and travel the world... Trust me, the more things add up... the less I want to stay at a job where I'm paying THEM for the privilege to work FOR them... Nice Where's my old signature line about plucking my feathers? __________________ **************************** She has been through hell, so believe me when I say, fear her when she looks into a fire and smiles. ~E.Corona~