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Combining Roll-Over IRAs
Old 06-30-2008, 06:33 PM   #1
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Combining Roll-Over IRAs

I have two roll-over IRAS that are sourced from two different 401(k) from two different companies. Both 401(k)'s contained a combination of employee and employer contributions. Can I combine these IRAs into one large IRA? If so, is there any significant reason not to? I am trying to get vanguard admiral shares, which cannot be accomplished with separate IRAs. I would also like the simplicity of fewer accounts. Thanks for your wisdom.
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Old 06-30-2008, 07:29 PM   #2
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Don't think there is any problem doing what you suggest. There is some thought that you shouldn't mix rollovers (from corp plans) w/ "normal" contributory IRAs for creditor protection purposes but that isn't what you're thinking about. Only reason I can think for not combining them is in the remote event one got compromised somehow (online fraud type), then you'd still have the other intact. May not be of any concern to you though and
you have other benefits that you have suggested.
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Old 06-30-2008, 08:15 PM   #3
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Quote:
Originally Posted by kaneohe View Post
There is some thought that you shouldn't mix rollovers (from corp plans) w/ "normal" contributory IRAs for creditor protection purposes but that isn't what you're thinking about.
I knew this, which is what made me worry that there might be something else I did not know about.

Thanks for the reply.
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Old 07-01-2008, 09:10 AM   #4
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I see no problems, it's done all the time. If you are in a situation where you are worried about creditors going after your IRAs, this would be the LEAST of your problems.........
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Old 07-01-2008, 08:15 PM   #5
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I ended creating two different IRAs from 401K rollover, the opposite of what you did.
Hawaii and at least a couple of other states don't tax pensions (including employee contributions to 401K) So withdrawals on one of my IRAs is exempt from state taxes.

It maybe worth checking if any of your potential retirement locations have that provision, and separate out your contributions from your employers.
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