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Can I rollover a portion or all of my 401k into a IRA account even if I'm still employed by the company? Do I lose my shares in my current 401k mutual funds when I do a rollover to another financial institution IRA account?
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No, usually you cannot roll over from your 401k while still employed with the company -- but check your plan documents to confirm.
Yes, typically you must sell the funds in your 401k, transfer the cash, and then re-buy the mutual funds in your IRA. -
sweeps is correct on both points.
You can't transfer money out of a 401k while still employed by the company and you can only deposit cash into an IRA/ROTH. You can't deposit shares of stock, mutual funds, bonds, etc.Steve
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sweeps is correct on first point- you need to know the plan rules and the types of contributions/monies in your account. For example it's possible if your company has been acquired in the past that old contributions can be rolled over but new contributions cannot (until the next buyout occurs)- and each buyout changes the rules.Originally posted by sweeps View PostComment
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