401k Rollover
When rolling over a 401k plan to a traditional IRA can it be rolled into an existing IRA or should a seperate IRA be established?
When rolling over a 401k plan to a traditional IRA can it be rolled into an existing IRA or should a seperate IRA be established?
Permalink Submitted by Clyde Wolf on Wed, 2009-07-08 19:29
Merc89,
You can transfer your 401k to your existing TIRA.
You can also establish another TIRA for the 401k funds. This option may work better for you if you are planning to move these funds into a 401k plan with a new employer.
Keeping your money in a 401k plan offers better protection from creditors.
Here is a link that shows how your IRA is protected from creditors in your state: http://www.assetprotectionbook.com/state_resources.htm