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Actually you can roll it into an annuity, as many find to their sorrow

Bill, I think you're mistaken. An annuity is an insurance product. You can only roll over 401k distributions into an account. Some 401ks might offer annuitized payments as a withdrawal option, but that wouldn't be a rollover.

Nor can you do a 401k to Roth rollover. You could, however, roll the 401k into a Traditional IRA, then convert the TIRA into a Roth.

IRS Pub 590 defined a rollover as:

"a tax free distribution of cash or other assets from one retirement plan that you contribute to another retirement plan"

Note: 403(b) plans are sometimes confusingly referred to as "annuities" (even by the IRS), but they're really accounts.


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