Skip to main content
No. of Recommendations: 0
Greetings, Rowgumby, and welcome. You asked:

My company subscribes to the Merrill Lynch 401k program. They match my contributions 50 cents on the dollar so I can't afford to pass up this option.

I have a naturally foolish aversion to the business practices and investment philosophy of Merrill-Lynch.

I also don't like the limited number of investments in which I may allocate my funds. I would much prefer some form of contributory IRA stock account.

So the question that comes up is: Can I transfer these funds (after, of course, the employer-matched contribution) to a different account, such as another tax-deferred type of retirement account, that is under my control?

Generally, you cannot move your 401k money to another tax-deferred account such as a self-directed IRA until you leave your job. A few plans do sometimes allow for what's called an "in-service" withdrawal of some of the money, but it depends on what your plan document says about that. Most have age and service restrictions involved. To determine if your plan allows for this, you must check with your benefits administrator.

Print the post  


The Retirement Investing Board
This is the board for all discussions related to Investing for and during retirement. To keep the board relevant and Foolish to everyone, please avoid making any posts pertaining to political partisanship. Fool on and Retire on!
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.