Welcome! | Ask A Question
Asked 11/27/2007
|
What is the best way to rollover old Pera and TIA CREF accounts? I have just started a ROTH IRA and I have some money left in my retirement accounts (one PERA and one TIA CREF) from when I worked for the state. Should I leave these accounts open and leave the money in them, or should I roll over this amout (combine about $15000) into my ROTH IRA? |
Answer 1/2 - Submitted 11/27/2007
If your old accounts are not Roth IRAs then you need to consider the tax ramifications of rolling them into a Roth. Since regular IRA contributions are tax-deductible and Roth contributions are not(tax benefits come on withdrawal) you would have to pay taxes on the $15K and then roll the remainder into the Roth. I guess I would recommend picking the account that you like more(Pera or TIAA) and roll the other one into it. That would limit your accounts but also give you some diversification.
Type your Answer in the box below and post your answer.
Related Questions (Ask a New Question)
My husband changed jobs a year ago and has funds in the old employer's 401k plan. his new employer doen't have a 401k. we make too much to do an ira.we would like to consolodate his 4oik with my current 401k. is this possible to roll over his funds into the 401k with my employer?
How long does an employer have to deposit 401k dollars from you check into your 401k plan? are there any penalties?
I can't find my 401k and the company i work with them was closed ten year ago and i not rollover my 401k to the new company and i lose all my paper work 401k company how can i find my 401 account, thanks
|
My husband changed jobs a year ago and has funds in the old employer's 401k plan. his... |
|
How long does an employer have to deposit 401k dollars from you check into your 401k plan?... |
|
I can't find my 401k and the company i work with them was closed ten year ago and i not... |
|
We borrowed against our 401k a few years ago and are making monthly payments back into the... |
|
I live in massachuttes, if i was to marry is my husband entitled to my 401k eventhough i have... |
|
My husband has a 401k plan at work but the employer doesn't match so it isn't growing... |
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 2010. All rights reserved.