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Old 04-25-2011, 08:33 PM
 
1,139 posts, read 3,217,612 times
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Employer A - job ended in 2005.
Employer B - job ended in 2009.

Now, am with Employer C.

My question is:
Can I rollover my 401K from Employer B to Employer A or does it have to be ALWAYS from your previous employer(Employer B) into your current employer's 401K(Employer C)?

I really like the low fees and fund selection in Employer A's 401k plan.
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Old 04-25-2011, 08:48 PM
 
Location: SoCal desert
8,092 posts, read 14,446,859 times
Reputation: 14927
I really don't think putting money into a past employer's plan is an option. But I'm not an expert.

If it was me, I'd find a broker and roll both A & B into my own IRA. But I'm a control freak
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Old 04-25-2011, 09:04 PM
 
Location: Wisconsin
24,357 posts, read 52,617,632 times
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You need to check with Employer A. I doubt their plan allows it. Once you're gone, you're gone.

Last edited by Ariadne22; 04-25-2011 at 09:16 PM..
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Old 04-25-2011, 09:09 PM
 
1,139 posts, read 3,217,612 times
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Quote:
Originally Posted by Ariadne22 View Post
You need to check with Employer A. I doubt their allows it. Once you're gone, you're gone.
Quote:
Originally Posted by Gandalara View Post
I really don't think putting money into a past employer's plan is an option. But I'm not an expert.
You both maybe right. I was trying to find some online resources and can't seem to find anything
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Old 04-25-2011, 09:16 PM
 
Location: Wisconsin
24,357 posts, read 52,617,632 times
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The issue is very plan specific. You need to talk to your former employer or whomever administers the plan. Generic information on the internet won't help you. The parameters of the plan are defined by the employer.
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Old 04-26-2011, 05:45 PM
 
13,768 posts, read 36,253,864 times
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Many employer's will allow you to leave your 401K for a specific time period and then require you to roll it over into another plan. I have never heard of an employee plan that would allow an ex employee to put more money in.

I have been told by my ex employer that I am going to have to take 'all' the money out of my 401K once I reach 70 1/2. That is their requirement.
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Old 04-26-2011, 06:24 PM
 
1,139 posts, read 3,217,612 times
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Quote:
Originally Posted by Ariadne22 View Post
The issue is very plan specific.
Called the plan administrator, they don't allow former employees to rollover.
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Old 04-26-2011, 06:24 PM
 
9,488 posts, read 13,805,992 times
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Quote:
Originally Posted by Ariadne22 View Post
The issue is very plan specific. You need to talk to your former employer or whomever administers the plan. Generic information on the internet won't help you. The parameters of the plan are defined by the employer.

Ding! Ding! Ding!

We have a correct answer. Some plans allow this and some don't.

Quote:
Originally Posted by Keeper View Post
Many employer's will allow you to leave your 401K for a specific time period and then require you to roll it over into another plan. I have never heard of an employee plan that would allow an ex employee to put more money in.
And now you have.

Even though I am retired, I am still eligible to rollover my Traditional IRA into my 401(k) should I so desire. In fact, even after I start withdrawing money from my 401(k) account, I could still rollover my IRA into the account.
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Old 07-22-2011, 09:59 PM
 
Location: USA
5 posts, read 9,441 times
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Employee 401k contribution are automatically deducted from their paycheck each pay period. This money is taken out before the employees paycheck is taxed. The contributions are invested at the employees direction into one or more funds provided in the plan. Employers often "match" employee contributions, but are not required to do so. While the investments grow in the employees 401k account, they do not pay any taxes on it.
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Old 07-22-2011, 10:14 PM
 
Location: USA
5 posts, read 9,441 times
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My income is over the Roth contribution limit. In March, I made a $5k TIRA non-deductible contribution for both 2010 and 2011 and immediately converted to a Roth. I had no other TIRA accounts at the time, so I was able to convert $10k from my TIRA to my Roth account and not have to pay any taxes on it since it was an after-tax contribution to my TIRA. My TIRA account now has $0.02 in it.

I have kept a 401k from a previous employer to facilitate this, but they have now changed the fund options and I no longer like them.

My question is can I now do a rollover of this 401k to a TIRA or will this affect my tax basis for the 2011 roth conversion I already did? I realize it will affect my ability to do this type of Roth conversion in 2012.

Would I be better off waiting until Jan 2012 to roll over the 401k or is the Roth conversion a point in time thing?
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