401K rollover questions

Hi,

I have a 401k plan and I’m allowed to do an in service transfer. I’m inclined to do the transfer. However, I have concerns if I would be losing creditor and/or bankruptcy protection. I live in Pennsylvania.

Also, if I do the transfer should I set up a separate Rollover IRA account? Or just add it to my present Rollover IRA account at the receiving institution? Thanks for any help.

Francis



Rollovers from qualified plans are fully protected from creditors in PA. You can roll the plan into the current rollover IRA if it is a pure rollover IRA, but best to not commingle it with contributary IRA accounts.

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