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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 75384  
Subject: Re: Covnverting 401K Date: 4/1/1999 2:29 PM
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Greeting, Jimkullman, and welcome. You asked:

<<1. Can I make a partial transfer, transferring a portion of my 401K to two different brokers?reason: one broker I like and is local to me does not handle mutual funds, and I want to invest some amount in a mutual fund with remainder in stocks).>>

Yes, you can. Just set up the receiving IRA with both, and coordinate the deposits with your plan administrator. Both the plan administrator and the brokers know how to do the transfer, so just follow the instructions they provide.

<<2. I want to start some DRiP investing and understand that the stock has to be in my name. Is this do-able with an IRA investment, or is this exclusive to non-IRA type accounts?>>

Normally, the shares have to be in your name, and I know of no DRP company that accepts IRAs. Some brokers will give you a DRP-like option by letting you reinvest dividends through the purchase of shares (to include fractional shares) already held by the broker, but not many do. USAA Brokerage Services is one that does.

Regards..Pixy
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