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I have recently switched jobs - and am trying to decide what to do with the funds in the 401K progam with my old employer. I prefer to manage these funds myself - rather than just roll them into my new employer's 401k funds. Can I just open a 'rollover' IRA and place them there?

Also - once I have the funds in the IRA - can I then roll those over into a roth ira? What if I am over the AGI limit now - but wasn't when the funds were first put into the 401k program?

thanks - ed j.
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