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Author: TMFPixy Big gold star, 5000 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 74759  
Subject: Re: Old Keogh Date: 4/19/1998 5:35 PM
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Ahoka,

<<I have a Keogh (Money Purch & Profit Sharing) that I have not contributed to in over a year as I am no longer self-employed (I was a sole-proprietor). I recently read that I could potentially be in trouble (plan may be disqualified?) since I haven't closed the Keogh and rolled it over into an IRA.

Is it not possible to just leave the Keogh alone as long as I don't make any further contributions? It's going to grow (hopefully) tax deferred whether in an IRA or Keogh...why should the government care?>>

Your Keogh is inactive now that you are no longer self-employed. There is no requirement of which I am aware for you to completely close it and roll the proceeds to an IRA. You should be able to leave the funds there until you retrie. Alternatively, you may transfer the money to an IRA.

If you are concerned that the plan no longer qualifies, the financial institution that provided you the prototype when it was established can clarify the issue for you. The current custodian can help, too. However, as I see it you don't really have to do anything until you must take distributions at age 70 1/2.

Regards....Pixy
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