If we move out our Macy’s 401k do we still get their Contribution in November? Or do we have to wait till November?
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Who do I contact regarding my account I've been told to call Macy's hr but no one answers someone please tell me a legit way to contact so e can get my money
Thanks
Do i have to report my 401k withdrawal to unemployment benefits in Florida.?
All stores are not the same. I worked at a destination store (I believe that’s what it is called) for 20 years and was laid off. Other stores nearby are neighborhood stores that have had less product and staff for some time. I think a few more of those will be gone soon. The store I worked seems to be less valuable now too.
Been reading alot of comments about Macy's will be laying off more people in Sept 2020 Can this be confirmed for sure .Is it True. Been with the company 30 years.
I left the company in 2019 and took all of my 401k out and rolled it into something safe without penalty.
I am waiting for the match, which they said is coming in November. The Merrill account is still open so the company can deposit the funds.
When the match hits the account in Nov you will be able to request a transfer if funds.
Q44. Will my 401(k) plan contributions still be eligible for the company match at the end of my service with the company?
Yes. If you made contributions during 2019, you are eligible for a match on your eligible 2019 contributions. The match on 2019 contributions will be allocated to your account in November 2020. If you make contributions in 2020, they will be matched in 2021.
Q45. If I have taken a loan from my 401(k) plan and cannot repay it, it states it is considered in default. Does this mean it will be reported and reflected as default on a loan on my credit report?
If a loan is not paid back before your separation or within the short grace period after service ends, it will be reported as a taxable distribution for the year of the “default.” However, it is not reported negatively on your credit report.
Call the Colleague Support Center at 800-234-MACY (6229) and choose option #1 to speak to a Merrill Lynch representative about loan information and payment options.
Q46. How do I request a 401(k) plan distribution?
If you are a participant in the 401(k) plan, you may initiate a distribution approximately three (3) weeks after your separation date.
Call the Colleague Support Center at 800-234-MACY (6229) and choose option #1 to speak to a Merrill Lynch representative.
Q47. If I would like to take a distribution from my 401(k) plan, do I have to be of a certain age?
If you are vested in your 401(k) plan benefits, you can take a distribution without regard to your age. Unless you rollover your benefit to an IRA or other Employer’s 401(k), your distribution will be subject to applicable tax withholding at the time of distribution and may include a 10% penalty if you are under age 59 1⁄2. If your balance is greater than $1,000 your benefit may remain in the Macy’s, Inc. 401(k) Plan until age 72 at which time you are required to withdraw the
Open up the FAQ's about your layoff, that question is answered within. I'm not where I can pull it up right now, maybe someone else can copy and paste in this thread.