I have a 401(a) in a company from which I retired four years ago. I am just now wanting to rollover the funds into an IRA. Are there any regulations that would keep me from a direct rollover? Could the 401(a) have been set up originally to first be turned into a fixed annuity before being released to me or an IRA with another investment company of my choice?
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 Early-Retirement.org 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!
A direct rollover should be fine. Often 401(a) plans had post tax employee contributions, which might complicate record keeping somewhat. The law may have required that the plan give an annuity option and a survivor annuity option and in that case you may need your spouse's consent to the rollover.
I am working from memory here, so check with your plan providers.
No more lawyer stuff, no more political stuff, so no more CYA
This community was started in 2002 as an alternative to a then fee only Motley Fool. The focus of the discussions is on topics related to early retirement and financial independence. The community is moderated to ensure a pleasant experience for our members.