Urgently Need Advise on my 401(a)

jhandley · 06-24-2008, 06:19 PM

I have a 401(a) in a company from which I retired four years ago. I am just now wanting to rollover the funds into an IRA. Are there any regulations that would keep me from a direct rollover? Could the 401(a) have been set up originally to first be turned into a fixed annuity before being released to me or an IRA with another investment company of my choice?

Would appreciate a response quickly.

**Martha** · 06-24-2008, 06:58 PM

A direct rollover should be fine. Often 401(a) plans had post tax employee contributions, which might complicate record keeping somewhat. The law may have required that the plan give an annuity option and a survivor annuity option and in that case you may need your spouse's consent to the rollover.

I am working from memory here, so check with your plan providers.

jhandley · 06-24-2008, 07:36 PM

I'm new at using a forum, so I hope you got my reply that I thought would go directly to you. Just in case you did not. Thank you for the explanation. I was hoping that it would be that way.

06-24-2008, 06:19 PM	#1
jhandley Confused about dryer sheets Join Date: Jun 2008 Posts: 3	Urgently Need Advise on my 401(a) I have a 401(a) in a company from which I retired four years ago. I am just now wanting to rollover the funds into an IRA. Are there any regulations that would keep me from a direct rollover? Could the 401(a) have been set up originally to first be turned into a fixed annuity before being released to me or an IRA with another investment company of my choice? Would appreciate a response quickly. Last edited by jhandley; 06-24-2008 at 06:25 PM..

06-24-2008, 06:58 PM	#2
Martha Administrator Join Date: Feb 2004 Location: minnesota Posts: 9,864	A direct rollover should be fine. Often 401(a) plans had post tax employee contributions, which might complicate record keeping somewhat. The law may have required that the plan give an annuity option and a survivor annuity option and in that case you may need your spouse's consent to the rollover. I am working from memory here, so check with your plan providers. __________________ . Do not rely on the information provided--my posts are not to be taken as legal advice. Needless to say you must consult with your legal representative. I am not responsible for errors. If I offended you with cya I apologize. If I did not, I tried.

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06-24-2008, 07:36 PM	#3
jhandley Confused about dryer sheets Join Date: Jun 2008 Posts: 3	I'm new at using a forum, so I hope you got my reply that I thought would go directly to you. Just in case you did not. Thank you for the explanation. I was hoping that it would be that way.

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