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Financial Planning / Foolish 401(k)s
|Subject: Re: 401k rollover to IRA||Date: 4/27/2000 3:45 AM|
|Author: rtowe||Number: 7544 of 25242|
A 401k is typically rolled into what is called a "conduit" or a "rollover" IRA. What this means is that if you take
money from a 401k and put it into a rollover IRA, you will then be able to transfer this money to a new employer's
401k at a future date if desired.
Since you seem to be knowledgeable: If you quit a job with an 401K and roll it over to an IRA, 1) Is that permissible? 2) Can you keep your stock holdings as they are?
The company has a Schwab account that can trade in stocks for $29.95 and mutual funds for nothing. I have spent some money on the commissions, and made some stock purchases that I would like to keep, but don't know if that is allowed.
As I don't see myself in this same job for long, my question is simply: Can I just transfer this account from a 401K to an IRA?
Thanks in advance, especially if this question has already been answered (although I didn't find it).
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