A friend has told Gabehe can take a lump-sum distribution from his Section 401(k) account upon leaving his current employer but keep and hold the employer stock that is currently held in his account. Please confirm whether this is possible and explain the process to be able to keep the employer stock and detail the applicable tax consequences of making this election.

Answer rating: 100% (QA)

Yes it is possible for Gabe to take a lumpsum distribution from his Section 401k account upon leavin... View the full answer