Archive for January, 2009
Ira Withdrawal Rules For Education
January 20th, 2009
Economic Development in Iraq, Views from the Front Lines
Posted in IRA Withdrawal Rules | 
Tags: 5329, education, ira, ira withdrawal rules for education, irs, withdrawal | 
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Ira Rules On 401k Transfers
January 5th, 2009
Question: i can’t take money out of my 401K?
OK I know the first answer will be don’t touch it, but here is what the deal is. I have a retirement account in my name that has several hundred thousand, that is my main retirement. I have a 401K, however with around 25K that I want to transfer out of my employer’s and into a new Roth IRA on my own. My employers choices of investments are horrible and have done worse and worse each year. However, they tell me that I can only recieve MY money if if either quit, or am being forclosed on my home, or other defined urgent need. Can they really do this? Can they, or the rules that govern 401K’s restrict my access to my money?
Answer: If there is no provision in the plan for in-service distributions or loans, then yes, your only options are to terminate your employment or get qualified for a hardship distribution.
If you don’t like the investment options, stop contributing. Or just use the money market option.
Rolling over 401K into IRA