under PA unemployment, i want to know if my 401k will affect collecting?

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under PA unemployment, i want to know if my 401k will affect collecting?

I was terminated from my job and I’m collecting PA unemployment.  I can rollover, cashout, or do both, or just leave it in till age 62.   If i cashout, will I have to report this to my unemployment office?

Asked on May 29, 2009 under Insurance Law, Pennsylvania

Answers:

MD, Member, California Bar / FreeAdvice Contributing Attorney

Answered 14 years ago | Contributor

In terms of income, http://www.dli.state.pa.us/  and http://www.dli.state.pa.us/landi/cwp/view.asp?a=358&Q=237268&landiPNavCtr=|1022|&TNID=3378#3378

 

I don't believe it will impact it because your 401k is not a salary. Unemployment is insurance to stand as a partial replacement for your salary temporarily until you find employment again.


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