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Hardship withdrawl from 401k that i cant invest anymore worth it?

I moved to a salary position at my job which from hourly has a totally different 401k. I can't invest in the hourly plan anymore and I have about 8k saved up just sitting there. I'm currently enrolled in my salary 401k which is better then the hourly. I was wondering can I hardship withdrawal from my hourly 401k plan since I can't transfer or move the funds somewhere else?

Note: for a downpayment
  • July 28 2013 - Newport News
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Answers (2)

I am fairly certain you should be able to roll over the old 401 K to the new one....
Find out which plan is easier to draw from, then make your decision.
Best wishes, Jim
  • July 29 2013
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Congratulations on the promotion!  Call the administrators of the 401K program and find out their criteria for hardship loans and also your access to this previous account. Good luck!
  • July 29 2013
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