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I requested some advice in Msg#8751. Thanks to all that answered. I need some more advice about this 'opportunity'. First, this 401(k) is not a retirement account. It is a savings account type 40l(k) only. The 'special withdrawal election' amount is $2500. Which puts me over the amount that can be contributed to an IRA, correct? Question: What is to be done with the 'extra'$500--if I do a direct transfer of $2000? (However, I don't see an option on transferring just the $2000 in the papers I have.)
Further help/advice needed on following: I participate in two of this savings plan type of 401(k)- not a retirement plan 40l(k). Both 40l(k)s will be mine to dispose of-in their entirety-if I am no longer at the company, which could possibly occur as soon as 3-1-99, or by 6-1-99. I can take them in cash, or stock (I think). I was planning to take the stock and put it in a brokerage account. Intentions: sell the company stock and buy more foolish stocks. Apparently, if I sell the company stock, I will have to pay the distribution taxes on it. Can I make a direct transfer of this type of 40l(k) and avoid the taxes of a distribution. I have to make this decision with enough time to get Vanguard their paperwork by March 31st.
I've put off reposting for fear I couldn't make the situation clear. And, right now, I've rewritten it 4 times and am still not satisfied with the phrasing. But, as I am running out of time, I am taking the plunge and posting anyway!!!
Thanks, very much, for your time and your help!

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