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Author: TMFPixy Big gold star, 5000 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 75890  
Subject: Re: Can I prevnt automatic 401(k) to 401(k) roll Date: 3/9/1999 10:24 AM
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Working Class Fool asks:

<<I worked for a company that was sold to another company last year. Now they are announcing that we will have a new 401(k) plan, with more options and greater matching percentage. Yay! However, I would much rather transfer my old 401(k) money to a self-directed ira where i could invest more Foolishly.

Can I remove the money since I have a new employer and the old 401(k) will no longer exist? Our benefits director said "no" and that all the old 401(k) mutual funds would be mapped to the corresponding new mutual funds (i.e. Fidelity Magellan --> T Rowe Price Blue Chip.)>>


I agree with TheBadger. It appears your plan is being merged with your new employer's plan. Therefore, you won't be able to transfer those assets until you leave your job.

Regards….Pixy
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