Thread regarding Corinthian Colleges Inc. layoffs

401k question

What should we do about our 401k?

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Post ID: @OP+wm1vNB9

9 replies (most recent on top)

Even if they do not have 401k, yours is with Prudential and the vested amount can remain there until you retire or you can pull it out (paying taxes at that time), or roll it to another. CCi closing, selling, etc has no impact other than their minimal company match will end.

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Post ID: @buQ+wm1vNB9

It depends...if you are staying with CCi or moving on. CCi did a company match through Prudential Financial. You can keep it with Prudential but it will probably not be managed actively. You can also roll it over to another 401K with your new employer if they don't have Prudential. Research new companies before rolling anything over. Many of them have hidden fees and change a percent. Check out Vanguard and Fidelity as well as other options. DO YOUR RESEARCH.

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Post ID: @11m+wm1vNB9

The 401k is administered through a financial firm. (Prudential, I think.) It has nothing to do with Corinthian. When you cease being employed by Corinthian, you will have the option to keep your money in the Prudential 401k or roll it over into another 401k or an IRA.

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Post ID: @eQf+wm1vNB9

Does the place buying us out have a 401K. Someone said it was Liberty College. Does anyone work there an know? They could take the 401 rollover when they buy us out.

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Post ID: @IoA+wm1vNB9

Until you are not employed with Corinthian anymore, they will not allow you to pull your 401K out. If your employment ends, I would look into doing a rollover into an IRA through a financial advisor that you trust. Depending on how much you have in it, you could possibly keep it with the same company that it is with now.

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Post ID: @TvI+wm1vNB9

Buy meth.

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Post ID: @XB8+wm1vNB9

Ask a financial advisor

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Post ID: @2GJ+wm1vNB9

donate it to Jack...

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Post ID: @EfP+wm1vNB9

Keep it or roll over

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Post ID: @3x5+wm1vNB9

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