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401k advice on a transfer. Way O.T.
Posted by A. Roper [Email] (more from A. Roper) on Wed, 4 Jan 2006 06:23:36
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I know this isn't the forum for it, but maybe someone has some insight.
My small employer is moving our company 401k plan from Fidelity to another finacial group/broker type of place.
I want to leave the existing $ with Fidelity by rolling it into a Fidelity IRA with the same funds. My employer and ADP (the administrator) is saying this won't be possible. The money is moved as a group, and I'm a current employee so the money can't be separated without a huge tax hit. The $ is vested. I'm in PA.
My logic is that my money should only be moved where I choose. Is this actually illegal, against IRS rules? Or am I just hitting against an administrator policy.
The reason for rocking the boat is the Fidelity funds have been doing very well with average fees. The new funds have had good returns but very high fees, like 2.5%!
Thanks.
A. Roper
00' 9-5 aero wagon 5-spd
posted by 67.62.18...
Posts in this Thread:
- 401k advice on a transfer. Way O.T., A. Roper, Wed, 4 Jan 2006 06:23:36 <-- Viewing This Message
- Thanks all, A. Roper, Wed, 4 Jan 2006 11:04:49
- Call Fidelity they will take care of it for you., john, Wed, 4 Jan 2006 10:03:03
- don't have the answer but..., GDS, Wed, 4 Jan 2006 09:47:10
- What about an "In-service Rollover?", Ken
, Wed, 4 Jan 2006 08:56:44 - Two possibilities, one big caveat....., MI-Roger
, Wed, 4 Jan 2006 07:57:39 - You're probably out of luck, Geoff, Wed, 4 Jan 2006 07:32:30
- Check with your HR and see if the new outfit actually.., TKC, Wed, 4 Jan 2006 06:57:44
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