401K Question

[originalzman]

My company offers a 401K plan utilizing Vanguard ,I have been contributing during my entire time employed here.I want to withdraw money utilizing a "hardship withdraw" and vanguard tells me that that option is not available because my company didnt opt for that plan feature.My question is ,,how can i get at my 401k money without quitting my job?

 

[army judge]

My company offers a 401K plan utilizing Vanguard ,I have been contributing during my entire time employed here.I want to withdraw money utilizing a "hardship withdraw" and vanguard tells me that that option is not available because my company didnt opt for that plan feature.My question is ,,how can i get at my 401k money without quitting my job?

That is hard to say.

Even if the plan allowed it, is your reason for seeking the early withdrawal within IRS guidelines?

Why not speak with your HR/Benefits representative at your company?

Your employer might have other options unknown to you.

They can tell you much more about your plan than any of us could without having access to it.

Companies can and have set up their 401-k plans to not allow any withdrawals.

This could be the case with your employer's plan.

 

[cbg]

If the employer did not opt for a hardship withdrawal option, then short of quitting your job you cannot access the funds. Period. Because of the pre-tax nature of a 401k they are subject to VERY stringent rules set at the Federal level and the company would be putting the entire plan in jeopardy by violating the terms of the plan.

Talk to HR but do not count on being able to access this money.