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Two weeks before fire'd.
Old 03-13-2016, 03:30 PM   #1
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Posts: 17
Two weeks before fire'd.

Well, the time has almost come. I'll be fire'd in two weeks after 37.5 years at the same company, just a week before I turn 60. I've spent years on this site reading and learning from so many great people. Thank you!! I'm hoping I can help others here over the years by sharing some of my experiences.
The question I have now concerns my 401K. Since I have always been a saver, I contributed after tax money to the company savings plan before the creation of 401K's. Saving plan balances were added to the 401K account once they started. Currently 22% of my 401K consists of after tax funds.
I have read that early in 2015, the IRS passed a ruling that will allow such 401K's to be rolled over, with the pre-tax funds going into a regular IRA, and the after tax funds going into a Roth IRA with no tax liability.
I would like to do this later in the year, but wanted to find out if anyone had already done this and how it went? Thanks!

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Old 03-13-2016, 03:44 PM   #2
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I did it before the IRS clarified the rule, so it was a little iffy.

I had my 401(k) administrator write two checks directly to Fidelity (in my case). One check went into a Roth and one went into a tIRA rollover account.

My biggest problem was the incompetents switched the amounts and I had to wait a month for them to reissue new checks, so I lost a month's earnings - about $1000. I mention this because it is worth your time to micromanage the process. No one cares about your money like you.
Yes, I have achieved work / life balance.
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