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All money in the 401K that is vested is eligible for roll over.

If a 401K has an ineligible fund (I am assuming that you mean the receiving broker does not carry that fund) in it, and you want to roll over the 401K to an IRA, then you have two choices (1) Sell the fund and roll over the cash, or (2) Keep that fund, and only that fund, in the 401K.

(1) is probably best.

There is no tax liability either way.

Rolling over 2 401Ks to one IRA should not be a problem. Ask the receiving broker, but I have done that, although not both at the same time.

Let me suggest Brown and Co. as a good broker. Waterhouse recently raised its fees, and I transferred out my account to Brown.

Here is one thing abour transferring a mutual fund from one broker to another. When a mutual fund is transferred from one broker to another, the original broker has to notify the fund company of the fact. The original broker has 30 days to do that. During that time, the fund will show in the receiving broker's account, but it cannot be sold until the receiving broker gets the notification through the fund company from the original broker.

That is nowhere to be found in the fine print of any documentation I have seen, and it just might be inconvenient. I know from experience.

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