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Emphasizing mjolah's detailed previous post--

http://boards.fool.com/your-company-actually-wasnt-quotacqui...

The rules of most 401K plans allow rollover to an IRA at age 59-1/2 (regardless of your employment status).

I don't think many participants on this board realize this. So those nearing 59-1/2 should ask their custodian or HR department about the provisions of their plan (especially if their plan has limited investment choices or high expenses).

Mjolah, thanks for an excellent and informative post. Give yourself a couple of gold stars.
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