Legal Question in Employment Law in New Jersey

I have recently been layed off from my job and will be applying for unemployment benefits in the state of NJ. I would like to take a portion of my 401K out of my pension fund in a lump sum to pay off some debt. Would this affect my unemployment benefits? I am 61 years old.


Asked on 9/02/10, 12:02 pm

1 Answer from Attorneys
Locksley Wade Law Office of Locksley O. Wade

No . . . but it is normally not a good idea to liquidate your 401k given the tax consequences.

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Answered on 9/14/10, 4:05 pm


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