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Author: vfc2791 Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 121061  
Subject: Rolling a defined benefit plan Date: 9/2/2001 12:58 PM
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I have recently left a job where they provided a defined benifit plan that was solely funded by the employer. I am now self employed. I was vested in the plan and have somwhere over $5,000 in equity. The only reson I know it's over $5,000 is that they would have sent me a check if it was under the 5k. The plan manager (Principal Finance) says they can roll it over to a Keogh plan. However they cannot calculate the equity amount until I move it.(?) I am interested in a self directed retirement plan and would like to have full discretion of investments. TMF Karen is not sure the Keogh will qualify. She suggested I post here. Any advice on how to go?

Thank you, Vic
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Author: acm4tax Big gold star, 5000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 53778 of 121061
Subject: Re: Rolling a defined benefit plan Date: 9/2/2001 6:49 PM
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Email your taw law question directly to IRS and receive a response within 48 hours.

http://www.irs.ustreas.gov/help/newmail/user.html



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Author: moneylady Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 53880 of 121061
Subject: Re: Rolling a defined benefit plan Date: 9/6/2001 3:04 AM
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Vic,
Why don't you roll it over into a conduit IRA (Rollover IRA)? You will then have a self directed IRA and can invest in any number of vehicles. From there you MAY then be able to roll it into your Keogh. Or not. There is no real reason to roll into a Keogh. If you choose Keogh (say, over a SEP IRA) make sure you do the paperwork before Dec 31,2001.
You may fund it with money up until you file your taxes but it must be open by year's end, even if there is no money in it.
Paula

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