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Greetings, Dawoj, and Welcome. You wrote:

<<i am only in my 2d year of 401k investing (vanguard's s&p index). i am able to max out contributions. seems to make sense to rollover the amount into an ira and invest it myself. will this proscribe future 401k contributions? how many rollover conitributions may be made? any comments/answers appreciated. >>

In general, you cannot transfer monies to an IRA from a 401k plan until you leave the employ of the company that sponsors that plan. However, there is no limit on the quantity or amount of money you may move from former employer plans. In your case, it sounds as if you're still working. Therefore, unless your plan has an in-service distribution option (some do in limited circumstances), you cannot move your money to an IRA until you leave that job.

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