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David answered your questions but in the event you are not aware...

Do find a custodian to handle the rollover, do NOT have your employer disburse check in your name. Check needs to be in custodian's name, if not, your employer is required to with hold 20% for guess who. Also, if check should be in your name, you have a time limit to rollover or be subject to a 10% penalty if your age is < 59.5.

HaGD, L2J
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