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By doing so, you will not incur any taxes or penalty; however, because you're in a "B" fund, you will incur some charge by Putnam as its back-load.

As to a Roth IRA, you may also transfer your money to one of those, too. If you do so, you will be taxed on the amount so transferred, but there will be no penalty beyond the back-load Putnam will charge.

So, either way...I'm going to pay something. Is there any benefit to waiting then as the back-load charges decrease each year..from what I understand. Also does that the back-load charge go against the orginal amount only or the entire balance?
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