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Asked 6/1/2007

401k Rollover?

I've been researching on my rollover options but have not come across a clear statement saying that I can rollover my 401k with my old employer to my new employer's 401k AND an IRA. Any reputable links on this?
I've been researching on my rollover options but have not come across a clear statement saying that I can rollover my 401k with my old employer to my new employer's 401k AND an IRA. Any reputable links on this? I already confirmed with my new employer that I can rollover my old 401k immediately.

 
 
 
 
 
 
Answers

Answer 1/4 - Submitted 6/1/2007

You probably aren't eligible for your new emp. 401k yet.Besides,why limit your options to the 401k plan,you don't get matching funds for roll-overs...invest you roll-over in an IRA,you have more control in the long run..

 
 

Answer 2/4 - Submitted 6/1/2007

You don't need any links, it is an easy process. I just did it from my last job, to my new one. All you have to do is get in touch with the financial officer in charge of your present account. Tell them you want to roll it over to your new job's account, and give them the routing number, and account information. It is that simple.

Good luck.

Stevo.

 
 

Answer 3/4 - Submitted 6/1/2007

You can roll-over your old 401K account to an IRA investment account with a bank or a stock broker and others; anything but real estate. You might try www.irs.gov and look up IRA's but I had the personal eperience of doing just that, i.e., when I left a company, I rolled my 401K into a tax deferred IRA account with a stock brocker.

I do not think you can roll it into your new employers 401K program.

 
 

Answer 4/4 - Submitted 6/3/2007

Typically you have following options:

1. If your new employers allows, you can roll over old employer 401k to new employer 401k. OR
2. Rollover your old employer 401k to Rollover IRA which is similar to Traditional IRA.

I personally prefer #2 as it gives choice of broker and investment.

 
 
 
 

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