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I have a few questions for the experienced out there. I received a letter from a former employer that I have approx. $4000 from an SEP that they need to transfer to me. They stated that they are holding it in an escrow account for me until I tell them where to transfer it. It's been 2 years since I worked for them.

My questions are:
1. Does anybody have any experience with a similar situation?
2. What can I put this money into (another SEP,IRA...)or more importantly, where should it go?
3. What is my tax liability?

I have talked to my employers and they say there isn't anything I can switch it into with them (a large hospital corporation). HELP! Any advice would be greatly appreciated.
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