Jevic Driver/Employee Assistance

Discussion in 'Jevic Transportation' started by hyperdiaper, May 20, 2008.

  1. DoorMatt

    DoorMatt Member

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    The penalty is figured at tax time but there are situations where you can remove funds without a penalty.

    If your home is in foreclosure, you can take out funds without penalty (you still have to pay tax on the money).

    Health insurance premiums is another reason. Also, any unreimbursed medical expenses over 7.5% of your AGI can be taken out without penalty (and most likely little or no federal tax b/c of the deductibility of medical expenses).

    PLEASE talk to a tax professional before removing money from your 401(k). There are significant tax implications and there are often other solutions that are less costly.

    I'm confused as to why Fidelity won't allow you access to your accounts. It doesn't matter if you are an active employee or a terminated employee, you still have access to those funds. Maybe not to the account limits but it's your money. The only thing termination affects is your ability to roll it over into a self-directed IRA. You can't do that until they receive termination notice.
     
  2. Carolina Cowboy

    Carolina Cowboy Member

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    Right or wrong. They said I couldnt do anything until they received the termination notice from Jevic.
     
  3. Carolina Cowboy

    Carolina Cowboy Member

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    I thought it was big of Jim A. to come on here and explain things. I was one month away from being 100% vested. I wonder if what they are doing to get everyone 1oo% vested will affect me. Probably not.
     
  4. star

    star Member

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    yeah!! right!!!

    save it Jim.. IMO.. "handling it carefully" translates to holding on to Jevic/Sun Capitol's money as long as they possibly can. There is NO excuse for everyone not being treated equally and each and everyone that needs their money to survive, having it readily accessible at the same time. Not to mention health care coverage that we paid over $513 a month for being yanked out from under us without warning. Know where I found out about it?? At the doctor's office on May 19, at my daughter's last pre-op appointment before surgery.. and how did I find out?? My oldest daughter reads these trucking boards because her hubby works for OD.. when she's here, she checks Jevic's messages too and she called me on my cell phone to tell me what she was reading.
    Your "goal" of providing the best benefit of the participants of Jevic's 401K should have extended to health care coverage.. better hope no one dies because of Sun Capitol's actions here.. there's going to be more than the current class action suit for them to deal with I believe. :hand:
     
  5. star

    star Member

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    save it Jim.. IMO.. "handling it carefully" translates to holding on to Jevic/Sun Capitol's money as long as they possibly can. There is NO excuse for everyone not being treated equally and each and everyone that needs their money to survive, having it readily accessible at the same time. Not to mention health care coverage that we paid over $513 a month for being yanked out from under us without warning. Know where I found out about it?? At the doctor's office on May 19, at my daughter's last pre-op appointment before surgery.. and how did I find out?? My oldest daughter reads these trucking boards because her hubby works for OD.. when she's here, she checks Jevic's messages too and she called me on my cell phone to tell me what she was reading.
    Your "goal" of providing the best benefit of the participants of Jevic's 401K should have extended to health care coverage.. better hope no one dies because of Sun Capitol's actions here.. there's going to be more than the current class action suit for them to deal with I believe.


    ok as I was posting that message above.. I got kicked off the internet so it didn't post.. in the short time since hubby called Fidelity.. they said they still won't let us do anything with the money but roll it over in to an IRA because JEVIC HASN'T NOTIFIED THEM OF THE EMPLOYEE'S TERMINATION. soooo..... is this how some of you were able to get access to the money or what??
     
  6. star

    star Member

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    oh .. and....

    hubby called Fidelity.. they said they still won't let us do anything with the money but roll it over in to an IRA because JEVIC HASN'T NOTIFIED THEM OF THE EMPLOYEE'S TERMINATION. soooo..... is this how some of you were able to get access to the money or what??[/QUOTE]

    also he was told that Jevic has terminated the 401K program effective May 22 so.. another question.. if they terminated the program on that date.. how is that they haven't advised the company of the status of the all of then employees yet? he was told to call back in a "week or so".. that's not helping our daughter
     
  7. BigSnap

    BigSnap New Member

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    Not Jim Aramondo , that was an E-Mail I rec. from him after I inquired about it. I need my 401k money also.You really shouldn't be upset at Jim. He didn't close Jevic or cancel insurance. He is just doing the job at hand(what he was told to do). He could however hurry up and get this 401k thing done. I need medications and dr. appointments for my heart condition that I can't afford without insurance. I could pay for my own insurance if I had my 401k money.
     
  8. dotxj8

    dotxj8 New Member

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    401k

    i just talked to a rep at fidelity. she told me that jevic has not notified them of anything. they can't do anything until they are notified. jevic has not cancelled the plan, has not notified of any termination. the only thing that can be done right now is to draw out the vested amount, UNTIL JEVIC NOTIFIES FIDELITY OF TERMINATION OF EMPLOYEES AND OR PLAN!!!!!!!!!!!!!!!!:nutkick::hide:
     
  9. notneb

    notneb Member

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    My husband was out on short term disability from Jevic due to a heart condition and is having to go the Mayo clinic for a 3rd opinion as to whether he needs a open heart surgery. Thank god my insurance co has picked us up and is willing to cover his preexisting conditions, although at a much higher cost to us.
    We are needing access to our account and have been told that the only thing that we can do is a hardship and we would have to prove everything to them just to get access to his money.
    I am not blaming anyone for this but things were supposed to be handled in a timely manner. Quoting the letter from Jevic "We will be notifying Fidelity about the status of employees within 7 days". What has it been 10?
    What about all these employees that are going to have to wait for their unemployment checks? Let alone afford to put down $300 to $1400 for their families insurance coverage!
     
  10. star

    star Member

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    seems Fidelty might be playing with the same deck of cards Jevic plays with cause we are hearing different things from different people at the same time.. who knows the truth?.. oh wait.. God does.. and all I can say is.. there's one more thing that's true.. karma really is what they say it is
     
  11. star

    star Member

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    ok.. Cowboy.. just exactly how did you go about getting your money from Fidelity, if you don't mind sharing the details with the rest of us that are getting the run around.
     
  12. dotxj8

    dotxj8 New Member

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    :chairshot:If more people call Fidelity, they might get in touch with Jevic to get this settled and get everyone off phone lines. The phone number I called was 1-800-835-5097
     
  13. TRKERSWIFE

    TRKERSWIFE New Member

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    My husband spent over and hour on the phone with them yesterday. He was passed from department to department. He was told his status was 'inactive' and we could not touch the monies at all, to borrow, cash out or roll over until it was released from Jevic. Fidelity told him that if they did not release it we could
    experience a long legal process to have the funds released. I was told by Mr. Messina in the rapid response team in Mass. to call the Attorney generals office and let them know what is going on. This is just pure torture. Checks bouncing, health care gone and now this - --- these actions reflect malice...to all the workers at Jevic - I'm sure that Gorman and his croonies are sitting under their golden umbrella somewhere. O and we are 100% vested.
     
  14. Vwaggs

    Vwaggs Active Member

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    I understand money is tight, but don't jump on the withdrawl wagon if you can avoid it. You incur about a 40% penalty on the amount you withdraw.
     
  15. hyperdiaper

    hyperdiaper New Member

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    What happened to my thread? Keep an eye on jevic.com for updates.
     
  16. hyperdiaper

    hyperdiaper New Member

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    I have heard the same thing posted... That management is trying to make everyone fully vested because it makes no sense to take Jevic's contribution to your 401K and give it to the banks.
     
  17. SICKTOSTOMACH

    SICKTOSTOMACH New Member

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      • thank you I understand that - there are ways that you can deduct money, and reasons without penalty ---but the fact is this is NOT their money - it's ours. We called to roll over to and IRA and they treated us like we had a communicable disease. Fidelity better tread lightly around this mess. But it's been over ten days now - why the wait?
     
  18. Carolina Cowboy

    Carolina Cowboy Member

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    I'm sorry everyone is having a hard time with this. I dont think I have a magic pill for getting your money. Maybe I was just lucky enough to get a headstart on everyone else. My termination with Jevic came down on 5/09/08. Thats 10 days before the complete shut down. Jim A. in HR is the one I went thru to complete my termination. Fidelity did tell me that I had to wait until Jevic changed my status and put in my termination date. Which they apparantly did. Because I called Fidelity back on 5/09 and they asked me if I had read something about what would happen if I took my money out. I guess I could have lied and said yes, But I'm not like that. So the person I was talking to emailed me the imformation to read. And after I read it I was already on the 401K website so I completed the action online. They told me it would take 3 to 7 days to get the check because I wanted to avoid paying to overnight it. But I had my check in 2 days. I also made the mistake of depositing the check in an ATM. My bank initially put a big hold on the funds. But I was able to get them to release the funds after talking to the branch MGR. Hope this helps.
     
  19. Vwaggs

    Vwaggs Active Member

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    Hyperdiapers latest Jevic job link


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  20. star

    star Member

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    thanks for helping to clear up some confusion CC.
     

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