UnThreaded | Threaded | Whole Thread (11) | Ignore Thread Prev | Next
Author: joelcorley Big gold star, 5000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 79087  
Subject: Re: Roll old 401(k) and allocate assets Date: 5/10/2013 5:11 PM
Post New | Post Reply | Reply Later | Create Poll Report this Post | Recommend it!
Recommendations: 1

I wrote, I've never met a 401(k) plan where you could roll out the holdings without selling.

To which you replied, When the same firm holds both accounts, they will normally offer the roll-over by transferring shares rather than sell/buy.

That's not been my experience; but I'm sure my experience is not exhaustive. I've had accounts with ING (account servicing was purchased from Aetna Retirement Services, where the plan was started) and John Hancock. They both offered to roll into an IRA. When pressed, they both told me they would have to liquidate and purchase similar shares and that the transfer was not an actual transfer of assets.

I also once had a 401k at Principal(pre-2000s); but they never offered me an option to roll it out. I see that they do offer IRAs now.

I also had a 401k at Scudder in the mid-90's. I don't recall if they even offered me the option to roll into an IRA, though I know they offered IRAs at the time. If you haven't heard of Scudder, they were based out of Boston and were purchased by Deutsche Bank in 2002.

I've also had accounts with three other companies (ADP, JP Morgan & Wells Fargo) in recent years. They have offered rollovers, but I've not cared to ask for specifics. (I haven't rolled the Wells Fargo account yet, so I could still ask them if you'd like another sampling.)

- Joel
Post New | Post Reply | Reply Later | Create Poll Report this Post | Recommend it!
Print the post  
UnThreaded | Threaded | Whole Thread (11) | Ignore Thread Prev | Next


The Retire Early Home Page
Discussion on accelerating retirement day.
Foolanthropy 2015!
Fistula Foundation: A World of Good!
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Post of the Day:
Berkshire Hathaway

Collected Mungofitch Quotes
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
Community Home
Speak Your Mind, Start Your Blog, Rate Your Stocks

Community Team Fools - who are those TMF's?
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.