Thread regarding DXC Technology layoffs

401(K) plan consolidations

Hey – is it is a good idea for the legacy people from CSC and EDS/HP/HPE to transfer their old 401(K) plans to the current DXC plan, to consolidate them into one plan? Is there anything unwise about doing that which isn’t visible on the surface or is it just fine and okay to do that. Thanks.

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Post ID: @OP+XFmJVxN

10 replies (most recent on top)

Login to yourbenefitsresources.com/dxc. Navigate to MAP, Documents and Resources, Plan Information, DXC MAP Summary Plan Description and Prospectus. See page 21, paragraph "Retirement", and also the list of reasons on page 40 for why the 10% tax penalty does not apply. Generally this requires that the money still be in the 401(k) rather than rolled over to an IRA.

SEPP=Substantially Equal Period Payments, another way to get money from a 401(k) or traditional IRA without tax penalties. There are many web sites covering this.

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Post ID: @5zlt+XFmJVxN

@XFmJVxN-2hgx

Could you post some url or provide info on what you mean by what you stated: "no need to do SEPP or other gyrations to avoid extra taxes".

In this case leave is forced due to WFR) and age is 55+ but less than 59.5. Thanks.

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Post ID: @5biw+XFmJVxN

I rolled over mine to a Vanguard IRA. Note that contributing limits to an IRA is less than a 401(k). Consult your retirement planner to what is right for you. For me, the DXC plan was garbage.

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Post ID: @3rmf+XFmJVxN

Two of the few benefits to the company 401(k) are the match, if you survive through 31 December, and being able to withdraw without penalty if you leave at age 55+ (instead of 59.5+) with the 401(k) intact - no need to do SEPP or other gyrations to avoid extra taxes.

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Post ID: @2hgx+XFmJVxN

I rolled my CSC 401K into a personal plan, I'll have a active manager managing my money instead of guess which DXC plan to put it in. I'll put new money into the DXC plan for the match and roll that when it gets to a certain figure

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Post ID: @1pzt+XFmJVxN

Absolutely not! Find a reputable financial planner, and roll it out to more stable people. Best decision I ever made.

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Post ID: @1qyj+XFmJVxN

There’s WAY fewer choices in the DXC 401k. The funds are incredibly few compared to the choices in Fidelity and Vanguard. I kept my HPE retirement funds in Fidelity and just accumulate the 401k in DXC starting from scratch.

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Post ID: @1hic+XFmJVxN

I did not move my hpe 401k over and never started a dxc plan. They just don’t pay enough for me to worry about it. I’m still funding other retirement plans anyway.

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Post ID: @uoa+XFmJVxN

Would keep your plans out from DXC altogether and having more certainly on your 401k, keep it out of DXC especially if the scare stories that you read on these forums and www are true and possibly down path the company is heading for - not worth the risk or worry but again it's your money

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Post ID: @pvh+XFmJVxN

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