Sharing a lesson learned with peers. I just got off the phone with my HR retirement counselor and learned that there are advantages to keeping my 401K separate rather than rolling it into the IRA.
She said that because I am taking retirement at >55 I can take penalty free withdrawals from the 401K (still taxed) based on my situation. If I moved it to the IRA I would be limited to IRA options for penalty free withdrawals (72t). The only downside is limited savings plan options which are not to bad.
That is a helpful option for me.
She said that because I am taking retirement at >55 I can take penalty free withdrawals from the 401K (still taxed) based on my situation. If I moved it to the IRA I would be limited to IRA options for penalty free withdrawals (72t). The only downside is limited savings plan options which are not to bad.
That is a helpful option for me.