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Financial Planning / Foolish 401(k)s


Subject:  Re: My Company is Getting Bought (again) Date:  3/13/2012  7:10 PM
Author:  CABob Number:  24848 of 26270

The latest information from the acquirers is that 'you as individuals are not allowed to roll over your 401(k) due to the Same Desk Rule, but we are looking to do a one-time transition into our 401(k)'.

I sounds as if you will need to wait for more information about what is happening and what your options (if any) are. My reading of the above indicates that you will not be allowed to roll it over into an IRA, but, perhaps your employer will maintain the existing 401k in parallel to the one from the new acquirer for a period of time. Eventually it will be converted to the new plan.

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