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Financial Planning / Tax Strategies
|Subject: Moved 401k to rollover ira but...||Date: 10/31/2012 3:16 PM|
|Author: jmrut||Number: 116879 of 121219|
I recently moved my company sponsored 401k into a rollover ira (I left the company). Somehow, out of the roughly 100k, about 2k of the money was already taxed and didn't qualify to go into the ira. Instead, Fidelity put that into a cash account.
I think this occurred because long ago the company had a different type of retirement plan that you could put taxed money in. They ended that and put it all into a 401k for you (best I remember).
I asked the Fidelity people and they verified it was not in a Roth option within the 401k but couldn't explain how it was already taxed.
So my question is, can I actually withdraw this money without the worries of paying additional taxes or a penalty (assuming it doesn't change my tax bracket)?
My 30th wedding anniversary is coming up and that would make for a nice vacation present.
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