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Subject:  Re: one 401k to multiple banks Date:  5/23/2000  1:24 PM
Author:  hayruner Number:  4028 of 20630

answer to FDIC limits; roll to more than one banking institution in the first transfer or roll all assets toone bank then move some of the "roll-over", assets to a second and third bank. the first recieving bank's account becomes a "conduit" IRA account. MORE important question, "Why do you want a banker to manage your money during retirement? Did a Banker help build up the account when it was a 401-K? why not trust the same investments that worked for you when YOU were working?" Good luck and enjoy you golden years!
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