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72t payments be effected by moving 401k to different finacial institution

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ByJim

L1: 72t payments be effected by moving 401k to different finacial institutionIf you started collecting 72t payments from your 401k years ago with a certain financial Investment firm ,that at that time had/useda higher actual interest rate used to calculate the 72t payments, can you transfer your money to a new financial investment firm and still keep the same actual interst rate used back then, or do you have to use the current rate if you do so?2010-08-24 14:41, By: Jim, IP: [64.12.116.72]
L2: 72t payments be effected by moving 401k to different finacial institutionIf the financial institution was using the proper assumptions at the start of the plan then those assumptions must remain unchanged – the transfer has no impact.2010-08-24 14:48, By: Gfw, IP: [24.148.10.164]

L3: 72t payments be effected by moving 401k to different finacial institutionUnless this is a sole 401k plan, the employee usually does not have the control to change plan administrators.
And in the event you are considering a direct rollover to an IRA account, that would bust your plan as an IRA is deemed a different type of retirement plan than a Sec 401, 403 or 457 plan. So don’t even consider that type of rollover.
Now if what you actually havenow IS an IRA and not a 401k, then you can transfer it to another IRA custodian, ie an IRA to IRA full transfer is OK.

2010-08-24 16:59, By: Alan S., IP: [24.116.165.60]

L4: 72t payments be effected by moving 401k to different finacial institutionYou did not indicate your age, or if you are still working for the same employer, or if you might be 55 or older and planning to separate from service. All of these could provide planning opportunities, if you still have a 401-K.
If you want more info, then provide your situation completely.2010-08-24 21:54, By: dlzallestaxes, IP: [72.78.110.86]

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