I now have a corporate retirement plan. I'm still working. I also have a 401k plan. I'm 56 years old. Let's say I retire and take "lump sums" for both of these. It's over a million dollars. I understand these have to be "rolled over" into special types of accounts, but why? It's my money. The company says so. Once the money is in these new accounts why can't I spend, withdraw etc. as I see fit. Suppose I don't want to just switch things around for investment purposes, but want to buy a house in the Bahamas?
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