about 401k and pa unemployment
Get Legal Help Today
Compare Quotes From Top Companies and Save
Secured with SHA-256 Encryption
about 401k and pa unemployment
i,m collecting pa unemployment. i was terminated from my job. i have a 401k plan that allows me to take a lump sum payment, rollover, or both. if i don’t do anything, because its more than 5,000, it won’t do anything till im 62. i’m 54 now. i want to know, if i take a lump sum, will it affect my pa unemployment?
Asked on June 3, 2009 under Employment Labor Law, Pennsylvania
Answers:
MD, Member, California Bar / FreeAdvice Contributing Attorney
Answered 15 years ago | Contributor
Not necessarily. Your unemployment replaces your salary --- your 401k is retirement.
IMPORTANT NOTICE: The Answer(s) provided above are for general information only. The attorney providing the answer was not serving as the attorney for the person submitting the question or in any attorney-client relationship with such person. Laws may vary from state to state, and sometimes change. Tiny variations in the facts, or a fact not set forth in a question, often can change a legal outcome or an attorney's conclusion. Although AttorneyPages.com has verified the attorney was admitted to practice law in at least one jurisdiction, he or she may not be authorized to practice law in the jurisdiction referred to in the question, nor is he or she necessarily experienced in the area of the law involved. Unlike the information in the Answer(s) above, upon which you should NOT rely, for personal advice you can rely upon we suggest you retain an attorney to represent you.