Employees may only withdraw money from their 401k once they are no longer employed by Outsource. Click Here to start the HR Resolution form and select ‘401(k)’ in the ‘Issue Related To’ pulldown. Once your request is submitted, you will be sent an official resignation letter via Docusign. Once this form is signed your status will be updated in Fidelity within 24 hours of Outsource receiving the signed document. Please expect 5-7 business days for the money to be paid out to you by Fidelity.
You cannot be active on a work assignment and withdraw funds.
Once you have resigned, you cannot work with Outsource for 10 business days.
To take out a loan, you need to contact Fidelity directly. Fidelity will work directly with you on the amount you can borrow, as well as the payment and repayment plans. Once you have received paperwork from Fidelity, please go to www.Outsource.net, select “Field Employees” -> “HR Resolution” and Submit a Request for Human Resources to approve the loan request, on our end. Please expect 5-7 business days for the money to be paid out to you by Fidelity.
You must be active on a work assignment in order to take out a loan.
Once you have worked with Fidelity on the loan amount, you will also have to determine your repayment plan. Repayments are deducted from your weekly paycheck through Outsource. If you stop working with Outsource at any time during your repayment period, you are responsible for contacting Fidelity to manage your repayments directly with them.
If you fail to make payments independently to Fidelity, you will owe all missed payments plus accrued interest at the end of the year.