Law Office of John C. Farrell, Jr. | John C. Farrell, Jr.
If you stop your 401K and you under under the threashold age of 59 1/2 years old then you will be responsible for paying taxes at a graduated level. You can speak to the adminsitrator regarding a hardship loan. Or you can rollover the 401K to an IRA without any penalties or taxes.
Answer Applies to: Massachusetts