The company I work for doesn't have a fund selection I'm happy with, and I'd like to move my money somewhere where I can invest in a rather obsure fund. I can do a in-service rollover to an IRA and invest in the fund I'm interested in. But I lose the legal protections that come with a 401K. Does anyone know of a way that I can move the money to an account I control, that still has the legal protections of a 401K.
It depends on what legal protections you are referring to. 401ks are afforded anti attachment provisions under ERISA. IRAs have a level of protection as well, but it varies according to what State you are domiciled in. Some States offer stronger protection that others.THe ERISA protection does not prevent spouses from claiming assets as part of a Divorce. Also the IRS has filed claims in cases of fraud.Bill
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