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Author: rookieJoe Two stars, 250 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 76418  
Subject: Re: 401K Rollover before retirement Date: 1/9/2005 5:13 PM
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When you quit working for a company, you have the right to roll over your 401k into an IRA.

While you are working at the company, the company can decide whether or not to allow you roll over the 401k (many don't).

When the startup I worked for was bought, we (eventually) had the choice of our 401ks where they were, rolling them into the new company's 401ks, or into IRAs.

A word of caution... The startup I worked for did not have the 401ks set up properly. It took 18 months for the new company to get things straightened out. So for 18 months all of our 401ks were frozen (still invested, but couldn't roll them over to anything). If your current employer's HR department doesn't seem organized, you may want to have things where you want them before the sale.

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