Anyone know if the Mattel cash balance and Fisher Price Pension plans are safe from being tampered with?
4 replies (most recent on top)
Be safe roll your pension over into another 401K
Here is a article regarding 401k and company closure https://www.thebalance.com/if-my-company-closes-what-happens-to-my-401k-2388225
basically any thing you put in is safe and vested percentage is safe $$$
But loans have to be payed in 60 days if. It not paid if not is treaters as a withdrawcand taxed
If your 55 1/2 you are sad from penalty tax if your younger you will be penalized I think it’s 10% over normal taxes
The pension plan has changed so much over the years from matching a pre-tax percentage to now next to nothing but that's been every industry. If you were with Mattel years ago they matched up to 10% I believe? Nowadays you get the privilege of eating their [email protected] and having the honor of complimenting them on their cooking.
The pension plan is usually terminated in reorganization and always terminated in liquidation.