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URL:  https://boards.fool.com/chrewick-were-you-also-given-the-option-of-18152412.aspx

Subject:  Re: Should I rollover my 401k Date:  11/14/2002  2:47 PM
Author:  MarleysGhost Number:  15544 of 26309

chrewick,

Were you also given the option of leaving the 401(k) account alone? If so, that might be an option until you find other work. If not, you'll have to set up a Traditional IRA to hold this money. You cannot roll 401(k) money into a Roth IRA.

If you roll the money to an IRA, it's best not to receive a check, but to have it done in a "trustee to trustee transfer". If your administrator says they can't do that, make sure the check is made out to your new IRA trustee, with the wording "FBO chrewick", but of couse use your real name (I don't take anything for granted).

Also, if you roll this money to a Traditional IRA, and do not add any additional contributions, the IRA will qualify as a "conduit IRA" and may be rolled back into a new employer's 401(k) plan if the new plan allows.
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