Welcome! | Ask A Question
Asked 10/22/2010
|
Can an annuity be forced on you? Work for an insurance company and they tell me on retirement my 402K will be used to purchase an annuity, I thought I had some say on where my 401K went? I wanted a lump sum tomove to a mutual fund company like Fidelity. |
Answer 1/1 - Submitted 10/23/2010
The employer has a choice among 401(k) trustees. Once the trustee is chosen, the employer and trustee can agree what options will be made available to participants as part of the plan.
You as a participant can choose to limit your participation, you cannot decide that you want a fund that isn't offered by your plan.
If you leave your employer, you'll have the option then of moving the funds into either a new employer's 401(k), or into an IRA with someone like Fidelity.
Type your Answer in the box below and post your answer.
Related Questions (Ask a New Question)
My allianz bonus dex annuity reached it's maturity anniversary. i want to know since i'm only 56 years old if i should roll over to an ira or 401k to protect assets and maximize benefit since i can't make penalty free withdrawls for at least six to nine more years.
Assume i accumulate $2 million in my 401k/iras. i am considering purchasing an annuity with a portion of my balance at age 65. are the required minimum distributions calculated on the remaining balance? my spouse is 8 years younger.
Do the distributions taken prior to age 70 1/2 have an effect on the mrd? if i purchase an annuity with a portion of my account balance at age 65, do i calculate mrd based on remaining balance?
|
I have an annuity which has reached it's first renewal date. My allianz bonus dex annuity reached it's maturity anniversary. i want to know since i'm... |
|
If i purchase an annuity with a portion of my account balance at age 65, does this effect rmd Assume i accumulate $2 million in my 401k/iras. i am considering purchasing an annuity with... |
|
Do the distributions taken prior to age 70 1/2 have an effect on the mrd? if i purchase an... |
|
My employer only has fidelity. i work for a petroleum company we have changed names and owners.... |
|
Can i rollover only a portion of my 401k to an immediate annuity? Can i rollover only a portion of my 401k to an immediate annuity? |
|
Can i withdraw from my 401k without getting taxed or penalized. i am 43 years old. I was medically retired from police work for an on duty injury. i receive a pension (tax... |
Ask A Question
Ask a new question about
401k:
About
| Contact Us
| Membership Agreement
| Privacy Policy
| Site Map
| Advertise on this Site
Copyright © 401kQuestions.net 2012. All rights reserved.