401k Rollover
A 401k rollover is a process provided by the Internal Revenue Code (IRC) that allows individuals to withdraw funds from their 401k plan and transfer the funds to another specified retirement account, usually without a tax penalty or cost.
Typically, 401k rollovers are applicable once you leave your company. You must decide what to do with the assets in your retirement plan. When you rollover your current 401k retirement account, you can either convert your present 401k to another qualifying retirement plan or you can roll it over to an Individual Retirement Account (IRA). IRA's have similar regulations as 401k plans.
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