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Author: W401K Big red star, 1000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 25242  
Subject: Re: in 401k limbo w/ new job... Date: 2/3/2000 9:04 AM
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You can leave the balance at Old Co. as long as your vested balance is more than $5,000. If its less, Old Co. can tell you to take a hike with your money. Otherwise, you can stay as long as you want.
Since you are not eligible to make a 401k contribution this year, you can make the $2,000 contribution to an IRA and take a full deduction for it. If you already do not have an IRA, you can open one at any discount brokerage such as Schwab, Fidelity, Vanguard, E*Trade, etc. Then you can buy individual Stocks, Bonds and choose from thousands of mutual funds.
Then, when you are eligible for the new Plan, you can either move the money from the old Plan to the new plan, move the money from the old Plan to the IRA, (You can do that once you open the IRA), or leave the old money where it is.

Bill
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