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Author: helmsmen Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 121061  
Subject: An ESOP'ian quandry Date: 7/27/1999 1:34 PM
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My Fello Fools;

I've got a good problem, but a problem nonetheless!

The company I've worked for for seven years was aquired last year...Gee, don't see much of that these days???

Anyhow, the ESOP plan with my former company is preparing to pay out the $50k they owe me in ESOP money. They are looking for advice on how I wish to have it paid.

One of the options is to roll it over into an IRA. I've been considering starting a Roth IRA as a means of funding my kids college (twin 1yr olds).

1. Can I put all, or the vast majority, of the ESOP money directly into this account "tax free" or will it be subject to the $2000 limit?

2. Can I split this money, once again tax free, between a Roth IRA for myself and one for my wife?

Help........
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