Automatic Data Processing, Inc., is a publicly traded company with more than $9 billion in reported revenues as of May 2011. The company offers client companies business outsourcing solutions. For its own employees, ADP offers an employee benefits program including an elective 401k plan. This is an optional plan that you can always opt out of if you decide that you just can't put the money away for retirement at this time. Your ADP 401k is no different than a 401k at any other employer.
Things You'll Need
- 401k statement
Call the 401k plan administrator at the number located on your last statement. Call 1-866-566-9727 at ADP to get in touch with human resources if you can't find your last statement.
Ask the 401k administrator to stop elective contributions. Elective contributions are those you make from paycheck deductions. There is usually no form to stop these, but it might take a pay cycle to process your request.
Decide if you want to keep the 401k intact. You won't be able to roll the individual retirement arrangement over until you leave ADP. However, you can keep the assets already in the account there to grow tax deferred. If you want the money, request a distribution form.
Complete the distribution form for liquidation if you choose to go this way. Sign and submit the form, and look for the 1099-R in January to use when filing personal tax returns. The amount taken from the 401k is added to income for the year. If you aren't yet 59 1/2 years of age, you also will pay 10 percent in penalties on the distribution.
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