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Two possibilities, one big caveat..... Posted by MI-Roger [Email] (#882) [Profile/Gallery] (more from MI-Roger) on Wed, 4 Jan 2006 07:57:39 In Reply to: 401k advice on a transfer. Way O.T., A. Roper, Wed, 4 Jan 2006 06:23:36 Members do not see ads below this line. - Help Keep This Site Online - Signup |
First things first. Your options are imited to whatever is in the terms of the management plan with Fidelity.
Two options:
1) Roth Roll-over. If your annual adjusted taxable income is under a specific limit (was $100,000 a couple of years ago) you can roll money from a 401(k) into a Roth IRA with taxes but without penalty (I think).
2) Roll-over IRA. If you don't meet the terms of #1, you can roll your 401(k) into a Roll-Over IRA. Roll-over IRA's are slightly different than a standard IRA.
Check with Fidelity. Your plan administrator has a vested interest in not allowing your to do this. Your employer probably just doesn't know what is available. The plan guidelines may prevent both of these IRS legal moves however.
posted by 198.208.15...
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