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Nick: You can't roll it into a Roth or an annuity (and you wouldn't want one of these anyway).

Actually you can roll it into an annuity, as many find to their sorrow. There are two main types of Individual Retirement Arrangements(IRAs): the Individual Retirement Account and the Individual Retirement Annuity. Snake oil salesmen procure millions in commisions in persuading the gullible public from one type account into the (qualified) annuity. Not impossible, perfectly legal, but usually a great waste of assets. It is also possible to convert from the IRAnnuity to the IRAccount) but there is usually a deferred sales charges for the annuity. It may still be better than paying high annual expenses.

Bill Patch
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