FedEx Freight | 401K rollover? 401K Loans? or SAY GOODBY TO YOUR 401k!!!! *LOL*

[BigWez]

HA HA Got your attention.
This is something us dummies with 401K loans need to be asking. I know loans can't be rolled into self directed 401's and I don't think they can roll to the other company's. They would have to be paid off or treated as a distribution and taxed as income on that year +a 10% penalty which could be as much as a 40% hit on the loan amount. We need to find out about this so we can make arrangements to pay them off someway.

 

[spirited]

We do need to be asking about our 401ks and loans. I wonder how long it will be before we get some answers to our questons. I'm a hub driver in South Carolina. I feel that like some thing will change for the better. Watkins is One of a Kind!

 

[oldcoot]

I was with Viking when they were bought by Roadway and been through all the changes since.. The only changes to our 401K has been the investment options and who administers it.. I had a loan and nothing changed.. They kept taking the money out until it was paid.. I suspect over time your benefits will transtion over to whom ever Fedex is using (currently Cigna). 401k plans are subject to strict govt rules and there is not much they can do other then change the administrator and investment options..

ps: FEDEX stock is not one of the options in any FDX 401k plan..

 

[imported_pickitup]

401k

I'm with freight and fedex just changed our 401k this year. We used to have Prudential and now we have Vanguard. Loans and monies were just rolled over to Vanguard, the only major change on loans was we used to be able to have 2 loans at once and now we can only have 1. Hoped that helped some.

 

[Right Turn Clyde]

Loans Roll

Part of this deal included that all 401k Loans will rollover from 401k company to the Vanguard company once we begin to use them. The only question that has not been answered yet regarding 401k is with the Self-Directed Stock within Morgan Stanley accounts if anyone has them. Should know soon though.