Join Early Retirement Today
Thread Tools Search this Thread Display Modes
Fee to roll over a 401k to an IRA?
Old 09-17-2004, 11:21 AM   #1
Thinks s/he gets paid by the post
grumpy's Avatar
Join Date: Jul 2004
Posts: 1,321
Fee to roll over a 401k to an IRA?

I will finally take the plunge into full retirement on Sep. 30th after two years of part time work. Today, I called Prudential ( the 401k provider for the company I have been working for) to find out what forms to use to roll the account over to a Vanguard IRA. They told me there would be a $35 transfer out fee. Has anyone heard of this? Is it common practice?

I recently rolled my wife's 403(b) account from Vanguard to a T. Rowe Price IRA and there was no transfer out fee.

Are we being ripped off or is this routine? Thanksl


__________________ can check out any time you like, but you can never leave...
grumpy is offline   Reply With Quote
Join the #1 Early Retirement and Financial Independence Forum Today - It's Totally Free!

Are you planning to be financially independent as early as possible so you can live life on your own terms? Discuss successful investing strategies, asset allocation models, tax strategies and other related topics in our online forum community. Our members range from young folks just starting their journey to financial independence, military retirees and even multimillionaires. No matter where you fit in you'll find that is a great community to join. Best of all it's totally FREE!

You are currently viewing our boards as a guest so you have limited access to our community. Please take the time to register and you will gain a lot of great new features including; the ability to participate in discussions, network with our members, see fewer ads, upload photographs, create a retirement blog, send private messages and so much, much more!

Re: Fee to roll over a 401k to an IRA?
Old 09-17-2004, 11:29 AM   #2
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
brewer12345's Avatar
Join Date: Mar 2003
Posts: 15,911
Re: Fee to roll over a 401k to an IRA?

Sounds like a rip-off to me. Personally, I would probably just pony up and be done with it, since I doubt you will be able to get out of paying it.

"Neither my companion or I carry firearms on our persons. We depend on the goodwill of our fellow man and the forbearance of reptiles."

- English Bob
brewer12345 is offline   Reply With Quote
Re: Fee to roll over a 401k to an IRA?
Old 09-17-2004, 11:37 AM   #3
Thinks s/he gets paid by the post
Join Date: Jun 2004
Location: No. California
Posts: 1,539
Re: Fee to roll over a 401k to an IRA?

I rolled a 401K into a Vanguard account by doing the paperwork through Vanguard. No fee for my rollover. Maybe it's just a paperwork fee from Prudential. You might check with Vanguard and see if they can do the paperwork and whether there is a fee attached from their side.
KB is online now   Reply With Quote
Re: Fee to roll over a 401k to an IRA?
Old 09-17-2004, 06:47 PM   #4
Full time employment: Posting here.
Join Date: Oct 2003
Posts: 961
Re: Fee to roll over a 401k to an IRA?


401(k)/403(b) providers put these fees (transfer fees, back end loads, etc.) in place to deter people from rolling over to an IRA. Little do the participants know how much staying with the 401(k) is costing them. I'd pay it. You'll likely make up that fee within the first year with lower expenses at Vanguard.

- Alec
ats5g is offline   Reply With Quote

401k, ira

Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off

Similar Threads
Thread Thread Starter Forum Replies Last Post
New Retiree - Why roll over 401(k)? travelover Hi, I am... 7 04-01-2007 11:16 PM
500 search phrases for 2006 dory36 Other topics 2 01-16-2007 07:00 AM
401(k) to roll or not? mickeyd FIRE and Money 31 02-08-2006 09:34 PM
Paying off Debt vs. 401(k) Contributions BigMoneyJim FIRE and Money 4 02-10-2003 10:06 AM


All times are GMT -6. The time now is 10:55 PM.
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2016, vBulletin Solutions, Inc.