handyman
11-25-2008, 03:00 PM
hello. I am new to this forum but have what I consider a good question, hope you can help. I have been involved with my employer's 401K program for 8 years and and for the entire time I have contributed it has always been that we have hardship withdrawls,50% loans,and inservice withdrawls. Being 100% vested after 6 years and able to take an inservice withdrawl after 9 years, until today when the company changed the rules on the inservice withdrawl. Now I can only withdrawl my money for hardship or if I quit my job. How can a company change the rules in mid stream. I know this is a retirement program but I am tired of loosing my money and want to invest my money elsewhere, I can't even roll it over to an I.R.A. unless I quit or get fired. Is this legal?thanks:mad: