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Subject:  Re: IRS 457 retirement account Date:  9/25/1999  10:19 AM
Author:  TMFPixy Number:  14049 of 99227

Greetings, BBuckner, and welcome. You asked:

<<Does anyone know of a broker that will accept my 457 retirement funds. I retire in January and would like to transfer the money to a broker who would be happy to just profit from my trades rather than pay a company almost one percent per year for every dollar in the fund.>>

When you take the money from your 457 plan, it is taxable in full at that time. It cannot be transferred to an IRA because it is not considered a tax-qualified plan for such treatment. Be aware of that issue when you retire. As to a broker, any will accept the proceeds in a taxable account. Just contact one of your choice, and that agency will be happy to tell you how to get the funds to that agency.

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