Not quite sure if you still have the 40l(k) or how you would receive $1400 per month. Do you have a pension as well as the old 40l(k)? Is there money left in the old 40l(k)?
Are you still working? I need more answers to give any advice. But if you are still working and you have a 40l(k) and if your company matches your contribution, that is definitely the way to start. Please feel free to post again with more details.