No. of Recommendations: 0
I just recently retired from State service where I contributed to the State's 457 plan. Now I have about 2 weeks left to decide what to do with it. I'm 62 and don't plan on taking any withdrawls until age 70&1/2. I would dearly love to roll it over into a self-directed IRA, but I don't think that's allowed by Uncle Sammy. I understood from a previous post that the Fed was about to make a change in the applicable law this January that would allow a rollover from a 457 plan. I have not heard ds about this. Does anyone have any information on this? Has this change happened? Would appreciate any help or info on this subject.

The bill that would have allowed 457 rollovers as of 1/1/2001 died, having never reached the Senate floor. It's highly doubtful that any change effective before 1/1/2002 will now be made. Not impossible, but highly doubtful.

Phil Marti
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!
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.