Can I turn a 401k plan into an IRA

Asked over 1 year ago - Roselle Park, NJ

My current employer has not responded to my request to switch to an IRA

Attorney answers (3)

  1. Peter Joseph Lamont

    Pro

    Contributor Level 18

    3

    Lawyers agree

    Answered . I would need some specific information about your 401(k) before I could offer you a firm opinion. However, there are 401(k) plan that can be rolled into an IRA. If your employer continues to ignore your request, I suggest speaking to the outside plan administrator of the 401(k).

    If you found this Answer helpful, please mark it as "Best Answer". Your feedback is greatly appreciated. Peter... more
  2. Ian Edmund Scott

    Contributor Level 12

    1

    Lawyer agrees

    Answered . Also, companies like Fidelity will give you free advice on the various options.

    The content of this answer has been prepared by Scott Legal Services, P.C. for general informational purposes only.... more
  3. Adam Lefkowitz

    Contributor Level 14

    1

    Lawyer agrees

    Answered . I agree with my colleagues. From a practical standpoint, if your employer is not responding to your requests, then contact your 401(k) plan administrator and / or your IRA manager. If you presently do not have an IRA or want to roll your 401(k) into a new IRA, call the financial institution where you would like to open the IRA and talk to them. Those calls could yield a wealth of advice.

    Disclaimer: For a free consultation contact me directly at 973-519-0196 or adam.lefkowitz.esq@gmail.com. If this... more

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