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URL:  http://boards.fool.com/gtgt-i-have-approximately-17000-in-an-15365211.aspx

Subject:  Re: Pension from prior employer Date:  7/13/2001  5:26 PM
Author:  Dogpile99 Number:  30721 of 76418

>>
I have approximately $17,000 in an employee pension plan from an employer I left one year ago. I am 100% vested. I am now self employed and don't know what my options are regarding these funds. Can I withdraw them and hold them in my own IRA? I don't want to leave them with the employer, but not sure exaction what the procedure is?
<<

If this pension plan is a 401K or similar, then you can roll it over to an IRA.

If this is the case, find a broker
http://www.fool.com/dbc/dbc2.htm?ref=SchAg

and open up an IRA:
http://www.fool.com/60second/ira.htm?ref=prmppf

Get the forms from your old company to do withdraw the funds.
Make sure you check the box that indicates that you want the money to go to another qualified plan. They will usually make the check out to the name of the brokerage. You don't want them to make it out to you or have them think that you are going to take the money and not put it into another qualified plan. You will then get stuck with a penalty and have to pay taxes. Your old company and your new broker should be able to help you.
http://jobsearchtech.about.com/library/weekly/aa031599-4.htm

It's easier than it sounds.

Good luck,

Dogpile :-P

"The best way to have a good idea is to have lots of ideas."
- Linus Pauling


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