- My Forums
- Tiger Rant
- LSU Recruiting
- SEC Rant
- Saints Talk
- Pelicans Talk
- More Sports Board
- Fantasy Sports
- Golf Board
- Soccer Board
- O-T Lounge
- Tech Board
- Home/Garden Board
- Outdoor Board
- Health/Fitness Board
- Movie/TV Board
- Book Board
- Music Board
- Political Talk
- Money Talk
- Fark Board
- Gaming Board
- Travel Board
- Food/Drink Board
- Ticket Exchange
- TD Help Board
Customize My Forums- View All Forums
- Show Left Links
- Topic Sort Options
- Trending Topics
- Recent Topics
- Active Topics
Started By
Message
re: 401K fees & taxes
Posted on 1/25/24 at 3:18 pm to BabyTac
Posted on 1/25/24 at 3:18 pm to BabyTac
quote:
I think there is some sort of penalty of a 401k is rolled over after a 60 day period. Not sure tho.
Doing some research now and I believe you’re correct, although I can’t find anything clear cut.
I’ve got two 401ks from past employers (one with Merrill and one with John Hancock) and would like to consolidate them for ease, but knowing there may be a penalty, I’m inclined to just let them sit.
1
Posted on 1/25/24 at 3:29 pm to SouthPlains
quote:
Doing some research now and I believe you’re correct, although I can’t find anything clear cut. I’ve got two 401ks from past employers (one with Merrill and one with John Hancock) and would like to consolidate them for ease, but knowing there may be a penalty, I’m inclined to just let them sit.
There is no penalty to rollover into traditional IRA. It can sit in there for 10 years before you roll over without penalty. 60 day rule is if you withdraw the funds from the 401k, you have 60 days to deposit into Ira…. Can’t sit on the check, have to move the money within 60 days between accounts. Not 60 days after you end the job
Page 1 of 1
Popular
Back to top
Follow TigerDroppings for LSU Football News