Rollovers / Transfers

1. Questioner: John

   Question: H, I am just shy of my 61st birthday and have been retired for a year from a government job from which I receive a monthly pension. Is it possible for me to contribute or roll over some of my monthly pension to my IRAs? I currently only have Roth IRAs, but could establish regular IRAs, if needed. Thanks much, John View Answer

2. Questioner: Kenny

   Question: Hello Richard, My wife is changing companies and we would like to know if we should keep her $180,000 pension with her former employer until retirement or transfer this money into an IRA? Looking forward to hearing from you.
   Regards, Wallace View Answer

3. Questioner: Kristin

   Question: Richard, I was recently laid off from my employer and I have a 401k. I have not been re-employed and am in my 30's. I can leave my money in the 401k plan, obviously no further contributions will be made, or I can roll it over into an IRA (I can't roll over into a roth IRA per my 401k). Since it's before April 15th, I want to make this decision soon. My question is about my stocks. As part of my 401k, I contribute to my company's stock fund. If I rollover the stock fund, I will have to pay ordinary income taxes of the market value at the time I decide to sell my stocks. The other option is taking the stocks in certificate form, which will be taxable now on a cost basis, but at the time when I do sell the stock, I will pay the differential between the cost basis and market value as a long term captial gains tax. What does all of this mean? And what is the best option for me??? Also, should I rollover the plan to an IRA?? Please help! Thanks. View Answer

4. Questioner: Ralph

   Question: Is there any rationale to continue to have segregated IRAs due to portability laws now in effect? i know we used to keep them separate in case client ever wanted to move funds back into another QPlan. View Answer

5. Questioner: John

   Question: I left my job last may and I had a cash account pension plan with the company that I was working with. I am still in my 30's and I worked for the company for 8 years and now I'm self employed. The option is an annuity $ 37.56 a month for life or lump sum about 10,000. I believe that rolling over the lump sum will be the best choose? Can I rollover it to a Traditional IRA or Roth IRA or a variable annuity? thank you View Answer

6. Questioner: Steven

   Question: I have a pension plan through my company (no longer employed there) Bruel & Kjaer Instruments. I was notified in January that I could now draw on the plan, retire the plan, roll it over, etc. I called Mass Mutual and requested the documentation to roll it over. I was told it would take 2 - 4 weeks and I had 7 - 10 days to get it back from their mailing date. Nothing ever arrived via mail and I called again. They informed me that they had "cancelled" my request because I put my wife on the phone (gave them permission to speak with her. I had just come home from major surgery). I again initiated the request for the documents and my options and they said it would take 2 - 4 weeks to prepare the paperwork and 7 - 10 days for mailing and that it must be returned within 7 days....doesn't make sense to me. AGAIN NOTHING arrived via mail or otherwise. I called Mass Mutual again and was told that it had been mailed and they would mail it again. Nothing arrived! I called Mass Mutual again and spoke with a supervisor who promised to call back within 48 hours with some detailed information. He did not call back. I called Mass Mutual again and was not allowed to speak with any supervisor or case worker or analysist. I was told that they would process the package but now it was set to roll over into an annuity on June 1st, 2008. I faxed a POWER OF ATTORNEY to Mass Mutual which authorizes them to speak directly with my wife, Colleen. I was told yesterday that it will take seven days to have that on file. I mailed "certified mail" to Mass Mutual today a letter stating my intention to roll the funds over to an IRA at another company and a copy of the POA for Colleen. View Answer

7. Questioner: Brian

   Question: I have a an Traditional IRA that I am considering rolling over into my workplace 401k. None of the funds can be held so I am going to have to liquidate the assets. I have some B shares so the total sales charges I will pay will be $320 of fees on a total investement of $11,900. Essentially I will be paying 2.69% in fees. My 401k is recent so I only have $440 dollars in it and am contributing only 3%, less than the max. My question is should I rollover the IRA into my 401k or should I just leave it there and keep contributing to my 401k and rollover the IRA when there are no sales fees? Thanks for your time. View Answer

8. Questioner: Jerry

   Question: I am 61 years old. I want to know what are the fees, besides taxes, will be levied on me for withdrawing all of my IRA from Smith-Barney? Thank you View Answer

9. Questioner: Eleanor

   Question: Retirement funds have to be distributed by 70 1/2. To avoid having to pay taxes at this time, should I roll it over to a 401K or get a lump sum or an annunity. Either way, will taxes have to be paid because of age? View Answer

10. Questioner: Arnold
    
    Question: my mother is 84yrs old in a assisted living and has two seperate trad ira accounts and cd accounts with values of about 80k in each for a total of 160k..We are having to take out 1k per month from accnt to pay for assisted living and it is getting to be a real pain and dont want to get taxed to severally at end of each yr. What should i do with these accnts? Roll into one IRA? Cash out and put into savings? Or put into annuity? Please let me know. Thanks View Answer

11. Questioner: Mikael
    
    Question: I changed my job last year. I would like to rollover my 401k but I also want to borrow some money from my 401k plan. Neither my old nor my new 401k plans allow that?
    What about your 401k plan ? Thanks View Answer
    
    
12. Questioner: Jim
    
    Question: I have about $170K in one traditional IRA of which about $12,000 is non-deducatable contributions. How can I roll the maximum money to a Federal TSP account and exclude the non-deducatable contributions from going into the TSP, since only deducatable contributions may go to the TSP? Can I leave the $12,000 in the IRA?
    View Answer
    
    
13. Questioner: Jim
    
    Question: How would Fidelity (IRA) know how much of my money was non-deductable unless I told them?  Thanks, Jim View Answer
    

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