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#2
06-01-2006, 05:54 PM
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 Re: My 401k after my company has been sold Rich Carreiro <rlcarr[at]animato.arlington.ma.us> writes: - quote - > "Treg" <tpiddyreg[at]gmail.com> writes:
When the company I worked for was acquired about 5 years ago, our old> > Im hoping for a little insight on this issue. I have 40,000 in a > > fidelity 401k account with my company. they have been bought by another > > company and i have a new 401k with about 10k in a amerprise account. I > > have no issues with leaving it in the Fidelity account, but would like > > to move it to an IRA > Can you even do that? What has the new company said about it? Is the > new company going to merge the old and new 401(k) plans into the new > plan? Also, depending on the details of the buyout, the IRS's "same > desk" rule may apply and prohibit you from rolling the Fidelity 401(k) > to an IRA until you quit/leave your current job. 401(k) plan was terminated, and we *had* to transfer the money elsewhere (either the new company's 401(k), or an IRA) within a certain period of time. OP should definitely check the exact requirements and procedures for his own situation. Possible reasons for choosing the IRA instead of the new employer's 401(k) plan (assuming it is allowed in this situation) are if the new plan has a limited choice of good investments, or to allow a Roth conversion on the money using other savings to pay the taxes. -Sandra |
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#1
06-01-2006, 05:31 PM
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| Re: My 401k after my company has been sold On Thu, 1 Jun 2006 10:39:39 -0500, "Treg" <tpiddyreg[at]gmail.com> wrote: - quote - > I
Check with your HR people and Fidelity to see if a rollover to an IRA> have no issues with leaving it in the Fidelity account, but would like > to move it to an IRA in my scottrade brokerage account. is possible under these circumstances. Meanwhile, most of the Fidelity 401ks I have seen had pretty good investments (low cost, good diversity possible, etc.) and retained the 401k advantages (possible access at 55, borrowing, etc.) What is it about a Scottrade IRA that appeals to you? -HW "Skip" Weldon Columbia, SC |
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06-01-2006, 03:57 PM
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| Re: My 401k after my company has been sold "Treg" <tpiddyreg[at]gmail.com> writes: - quote - > Im hoping for a little insight on this issue. I have 40,000 in a
Can you even do that? What has the new company said about it? Is the> fidelity 401k account with my company. they have been bought by another > company and i have a new 401k with about 10k in a amerprise account. I > have no issues with leaving it in the Fidelity account, but would like > to move it to an IRA new company going to merge the old and new 401(k) plans into the new plan? Also, depending on the details of the buyout, the IRS's "same desk" rule may apply and prohibit you from rolling the Fidelity 401(k) to an IRA until you quit/leave your current job. -- Rich Carreiro rlcarr[at]animato.arlington.ma.us |
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#-1
06-01-2006, 03:39 PM
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| My 401k after my company has been sold Im hoping for a little insight on this issue. I have 40,000 in a fidelity 401k account with my company. they have been bought by another company and i have a new 401k with about 10k in a amerprise account. I have no issues with leaving it in the Fidelity account, but would like to move it to an IRA in my scottrade brokerage account. Being a rookie at the IRA part, is this the best idea? Im 35 and put in about 6 grand a year to my new 401k if that matters. |
| Tags |
| 401k, company, sold |
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