Archived 401K & united way questions

[Brewhaha]

Hello everyone.

As some of you know, I got a new job and will only be working one day a week starting the 19th. Now, I need to stop 401K and united way from being taken out of my paycheck. It doesnt make sense for me financially to use those services when only working one day a week.

Anyone know how I go about doing this?

Also, my new company does do 401K, does target do transfers of 401K to other companies?

 

[Infinim]

I think you need to leave Target to roll it over. Maybe you can get a disbursement and put that money in, but it will be taxed. Check with HR to be sure.

 

[signingminion]

If you go into ehr there's a way to change/ stop your united way contribution.

 

[DoWork]

I'm in the same position. I called, and was told that in order to roll my 401k into anything else, I have to leave Target. Same with disbursement unless you meet certain qualifications and are willing to pay the taxes.

I'm just going to let it grow, then when I leave, dump it into the Roth I currently have to avoid taxation.

 

[Hardlinesmaster]

Keep 401k. Drop United way.

 

[Signkitty]

It is united way month, you should be able to change it. They made me fill mine out on Monday.

 

[Brewhaha]

It is united way month, you should be able to change it. They made me fill mine out on Monday.

I filled the form out today and it said it was for 2017.

However, my HR tm told me you can call the target pay and benefits people they can stop your 401K and united way if needed.

 

[Signkitty]

I didn't really read it. I rather donate money right to causes that I pick myself. Plus it seemes rude to ask people who barely make a living wage to donate, then take credit by saying target donated this.

 

[Hardlinesmaster]

I filled the form out today and it said it was for 2017.

However, my HR tm told me you can call the target pay and benefits people they can stop your 401K and united way if needed.

Keep 401k

 

[Goingstrong]

I didn't really read it. I rather donate money right to causes that I pick myself. Plus it seemes rude to ask people who barely make a living wage to donate, then take credit by saying target donated this.

This year you could pick any charity, even those that are non United way agencies.

 

[Frontlanegirl]

I think it is really bad business that HR will sit there and wait until you fill out the United Way form.

 

[StrawberryBanana]

I think it is really bad business that HR will sit there and wait until you fill out the United Way form.

I remember last year I told the ETL-HR that I wanted to go home and do some research before deciding to donate or not. She looked surprised and didn't seem pleased that I wasn't going to fill it out immediately.

 

[redeye58]

When a former ETL-HR insisted that I fill it out in front of her, I put zeros on every line.
She said that 'wasn't very nice'.
I said UW dropping several agencies/charities that were near & dear to me wasn't very nice either so I was now donating directly to THEM & I'd be more than glad to show her proof.

 

[mrknownothing]

I think it is really bad business that HR will sit there and wait until you fill out the United Way form.

If you think that's bad, you should see them during Best Team Survey season.

 

[garbage]

I think it is really bad business that HR will sit there and wait until you fill out the United Way form.

I wonder if someone did that with Brian Cornell and the other executives.....or did they just say "F*uck United Way, I want that private jet"

 

[Yetive]

When a former ETL-HR insisted that I fill it out in front of her, I put zeros on every line.
She said that 'wasn't very nice'.
I said UW dropping several agencies/charities that were near & dear to me wasn't very nice either so I was now donating directly to THEM & I'd be more than glad to show her proof.

You don't have to prove anything to her. I also donate directly since UW distanced themselves from some of my charities.

 

[aspiringETL]

I highly recommend you to not stop your 401k. It's LITERALLY free money. $1 a week to UW seems like a pittance but that shit adds up lmao.

 

[BigEyedPhish]

I think it is really bad business that HR will sit there and wait until you fill out the United Way form.

I always tell them no, but I am all for finding a "united way to pay for my college debt" if they are willing to help...

 

[Missbreeze1968]

You can go into your pay and benefits and allocate the percentage of 401k contribution. Target cannot tell you you have to have any money going into it. You do have to sever your ties with target to,roll over your 401k to an IRA. The only time you came take funds out of the 401k prior to age level disbursement of funds is a hardship and there are stipulations to that. NEVER LOAN YOURSELF MONEY. It's sounds nice but if you lose your job the implications are terrible for your credit. The other way to get your money after you leave Target is to have a hardship and ask to have all your money paid to you. There is a 10% fee from target and a 20% taxes. So if you need it that bad and are willing to lose 30%, which in some cases leaves you with less than you need anyway, go for it.

The key to understanding 401k is that it is retirement, not savings. Know before you go into 401k.