under PA unemployment, i want to know if my 401k will affect collecting?
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under PA unemployment, i want to know if my 401k will affect collecting?
I was terminated from my job and I’m collecting PA unemployment. I can rollover, cashout, or do both, or just leave it in till age 62. If i cashout, will I have to report this to my unemployment office?
Asked on May 29, 2009 under Insurance Law, Pennsylvania
Answers:
MD, Member, California Bar / FreeAdvice Contributing Attorney
Answered 15 years ago | Contributor
In terms of income, http://www.dli.state.pa.us/ and http://www.dli.state.pa.us/landi/cwp/view.asp?a=358&Q=237268&landiPNavCtr=|1022|&TNID=3378#3378
I don't believe it will impact it because your 401k is not a salary. Unemployment is insurance to stand as a partial replacement for your salary temporarily until you find employment again.
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