na

Yes, it's 'qualified' money, and you can roll your cashed-out pension into a traditional IRA. I did this earlier this year. I had to provide the IRA information on the cash-out application so it goes directly, avoiding any confusion or possible tax consequences.

You can always convert it to a Roth IRA later. You face the same analysis everyone does to determine if that's a good thing to do for your circumstances.

Also, I never understood rolling it into a new employer's 401k. In my experience, that means fewer investment options and paying more fees.

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Also, I never understood rolling it into a new employer's 401k. In my experience, that means fewer investment options and paying more fees.

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It does allow for a back door Roth

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It does allow for a back door Roth

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So does a traditional IRA, right?

I have never done this with a pension but I have moved IRA's from one brokerage house to another.

I used Schwab and the process of opening an IRA and then completing a form that Schwab provided gave them the tools they needed to get the brokerage house to transfer the money. It was pretty straight forward.

I would think you could use one IRA at your brokerage house of choice to consolidate all 401 K's from previous employers.