Detailed text transcripts for TV channel - FOXNEWS - 20100821:22:35:00
That is a big concern, sometimes people just say send me the money and don't realize there will be a penalty, are there circumstances in which you can take money out where you wouldn't be subject to penalties? >> yes, there certainly is, jamie and that would be in the form -- not every 401(k) plan allows this. it is up to your plan administrator, not the federal government, but if you take a loan, and there is no limitation on what you can take that loan for, there is a dollar limitation, $50,000, or 5%, whichever is less, but, if you take a loan, while you are employed and do not lose your em...
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