Camas Lilly
Recycles dryer sheets
- Joined
- Sep 18, 2007
- Messages
- 318
In an effort to cut costs, my employer has indefinitely discontinued the 401k match. The amount of quarterly fees taken by the custodian doesn't set well with me, so I thought I would roll over the 401k to my IRA at Vanguard to consolidate funds.
My question is, Vanguard said to do a rollover "in kind" from my 401k, and I am wondering how does that work? The 401k has some Vanguard funds and some not. To do an "in kind" rollover, do you have to roll over into the same fund? Would I need to move my 401k elections into all Vanguard funds prior to doing this rollover? Or will Vanguard let me keep the funds and just not make any more contributions to the fund?
I have one fund I wanted to keep and if I can't get that into my Vanguard IRA, I figured I would just leave that fund alone in the 401k. I asked Vanguard about the fund and this is what they said: Our records show that while Nationwide Geneva Small Cap Growth Fund Class R6 (NWKCX) can be transferred to Vanguard, it is not available for purchase.
I don't think I quite understand the process. Can someone explain a little how this works?
Thanks,
My question is, Vanguard said to do a rollover "in kind" from my 401k, and I am wondering how does that work? The 401k has some Vanguard funds and some not. To do an "in kind" rollover, do you have to roll over into the same fund? Would I need to move my 401k elections into all Vanguard funds prior to doing this rollover? Or will Vanguard let me keep the funds and just not make any more contributions to the fund?
I have one fund I wanted to keep and if I can't get that into my Vanguard IRA, I figured I would just leave that fund alone in the 401k. I asked Vanguard about the fund and this is what they said: Our records show that while Nationwide Geneva Small Cap Growth Fund Class R6 (NWKCX) can be transferred to Vanguard, it is not available for purchase.
I don't think I quite understand the process. Can someone explain a little how this works?
Thanks,