Early Retirement & Financial Independence Community - View Single Post

malakito · 05-31-2004, 08:41 PM

John Galt wrote:

Hey Malakito.......excellent post.

Thanks, John!

Bill J. wrote:
Malakito, it's clear from what you've said that I need to meet with H.R. to see exactly what I can do with the 401K. If I could transfer part of my 401K balance to an IRA and then take SEPP withdrawals from the IRA, that would be a possible solution to my problem.

I don't know if you can do what you describe; it probably depends on your particular employer's plan. Something else which accomplishes nearly the same thing is to transfer all of your 401k to an IRA; split the IRA into two parts, initiate SEPP withdrawals on IRA #1, and maintain IRA #2 in reserve.

malakito

05-31-2004, 08:41 PM	#18
malakito Recycles dryer sheets Join Date: Jan 2004 Posts: 159	John Galt wrote: Hey Malakito.......excellent post. Thanks, John! Bill J. wrote: Malakito, it's clear from what you've said that I need to meet with H.R. to see exactly what I can do with the 401K. If I could transfer part of my 401K balance to an IRA and then take SEPP withdrawals from the IRA, that would be a possible solution to my problem. I don't know if you can do what you describe; it probably depends on your particular employer's plan. Something else which accomplishes nearly the same thing is to transfer all of your 401k to an IRA; split the IRA into two parts, initiate SEPP withdrawals on IRA #1, and maintain IRA #2 in reserve. malakito