No. of Recommendations: 0
I'd only been at my workplace for a little over a year, when they set up a new retirement plan (401K) that effectively replaced the old plan (SEP IRA). That is, they would no longer make contributions into the old plan.

I had received some money into the SEP IRA that I had left in cash as the market dropped.

I have the option to transfer the money into the 401K. But given the greater investment flexibility, I'm wondering if I could transfer it into a Roth IRA?

I realize I would have to pay taxes on the amount. Are the any other costs or penalties involved with such a transfer?

Any pros or cons you can think of?

With thanks,
Print the post  


The Retirement Investing Board
This is the board for all discussions related to Investing for and during retirement. To keep the board relevant and Foolish to everyone, please avoid making any posts pertaining to political partisanship. Fool on and Retire on!
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.