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Small question over the 401k and IRA rollover

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Money Talk > Retirement Planning

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123jeff456
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Small question over the 401k and IRA rollover  Reply with quote  

If you have money invested into your 401k with your company (In this example I will say 10,000 that's in the 401k account ) and then you get fired from your company, are you able to roll over more than the IRA annual limit into the IRA account? (More than the 5,500 amount that can be invested into it annually)
Post Fri Aug 19, 2016 2:45 am
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oldguy
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Yes. Whatever is in the 401k is 'qualified', ie it met the rules for protection when it was invested. (Many of us who are retired rolled the whole fund into an IRA.)
Post Fri Aug 19, 2016 4:00 am
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123jeff456
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Thanks for the reply! Smile
Post Fri Aug 19, 2016 4:02 am
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