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My company subscribes to the Merrill Lynch 401k program. They match my contributions 50 cents on the dollar so I can't afford to pass up this option.

I have a naturally foolish aversion to the business practices and investment philosophy of Merrill-Lynch.

I also don't like the limited number of investments in which I may allocate my funds. I would much prefer some form of contributory IRA stock account.

So the question that comes up is: Can I transfer these funds (after, of course, the employer-matched contribution) to a different account, such as another tax-deferred type of retirement account, that is under my control?
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Greetings, Rowgumby, and welcome. You asked:

My company subscribes to the Merrill Lynch 401k program. They match my contributions 50 cents on the dollar so I can't afford to pass up this option.

I have a naturally foolish aversion to the business practices and investment philosophy of Merrill-Lynch.

I also don't like the limited number of investments in which I may allocate my funds. I would much prefer some form of contributory IRA stock account.

So the question that comes up is: Can I transfer these funds (after, of course, the employer-matched contribution) to a different account, such as another tax-deferred type of retirement account, that is under my control?


Generally, you cannot move your 401k money to another tax-deferred account such as a self-directed IRA until you leave your job. A few plans do sometimes allow for what's called an "in-service" withdrawal of some of the money, but it depends on what your plan document says about that. Most have age and service restrictions involved. To determine if your plan allows for this, you must check with your benefits administrator.

Regards…..Pixy
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Only if you quit your job, and your 401k plan lets you roll the money before retirement.

Otherwise, you are stuck with the choices in your 401K. Just remember to stick around long enough for all of your company match to vest.

Zev
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