Wachovia logo: go to home page
Home | Customer Service | Contact Us | Locations  

WITHDRAWALS (WITH OR WITHOUT PENALTIES)

You can make a hardship withdrawal from your 401(k) if your reason meets one of the four IRS definitions of financial hardship:

  • To purchase a primary residence
  • To prevent foreclosure or eviction from a primary residence
  • To pay unreimbursable medical expenses
  • To pay post-secondary tuition for a member of your immediate family

You must be a current employee to make a hardship withdrawal, and you will be suspended from contributing to the plan for six months following this type of withdrawal. You will receive no employer matching contributions during your suspension.

Options for Withdrawing Money if You Leave Your Employer
The Distribution Support Team (DST) will be happy to help you understand all of your options for withdrawing money and to help you initiate a withdrawal. Please contact a DST Representative at (800) 690-0531, 8:00am to 6:00pm ET, Monday through Friday.

 

The information contained in this Web site is for educational purposes only and does not constitute investment, financial, tax or legal advice. Further, this information is general in nature and is not intended to be reflective of any specific plan. Please contact your personal investment, financial, tax or legal advisor regarding your specific needs and situation. Further, please refer to your plan documents for more information about the specifics of your plan.



Privacy and Security | Legal | Careers | Merger | About Wachovia
© 2008 Wachovia Corporation. All rights reserved.