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401k

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ByCharlie

L1: 401kI’m 55 and plan on retiring in Jan.2005I have a 401k plan with company stock and an esop. April of 2005 their will also be an exploading esop payout.If the company allows Would I be able to put it all together under the 401k and take dispursements withoutIRS penality.The stock is presently paying a dividend and thats what I would like to draw on. Could there be any concicuancences later if the company decided not to retain the 401k
Appreciate any help
Charlie2004-11-14 16:34, By: Charlie, IP: [152.163.100.202]

L2: 401kHello Charlie:
You have all types of possibilities which will ultimately be governed by your exact circumstances. Options include:
1. Taking the company stock out & putting it in a taxable account using the NUA rules to convert to capital gains treatment.
2. Leaving everything in the 401(k) plan& make distributions as you so chose as you are55 or older.
3. Start a SEPP plan.
4. Several combinations of the above.
Critical is to thoroughly understand your options before you do anything.
TheBadger
wjstecker@wispertel.net
2004-11-14 16:43, By: TheBadger, IP: [66.250.23.22]

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