Minimizing Your Taxes and Managing Your Complex Affairs

Tax Tips, Finance Tips, Fun Events

Tips for Individuals, Businesses and Charities. Fun Events.

Employers Can Push Former Employees Out of Their 401k Plans

Employers can force out former employees with small accounts less than $7,000. This is because each participant in a plan increases the employer’s administrative burden.

Retirement plans may choose to restrict the form of payment to only a lump sum and may distribute the benefit without consent of the plan participant.

 

Richard Pon CPA, CFP