I'd like to use the full range of trading options with my 401K assets. Can an existing Verizon employee do an in-service rollover of part or all of their Verizon 401K to an IRA at Fidelity? Obviously, I'd like to avoid the penalty of a cash-out.
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So you do not have to be 59.5 years of age to do this?
Yes you can. They will tell you how much you can take, mine was close to 50% at the time. I rolled into an annuity guarantee 3 years ago. So glad I did. They take equal parts of all your money so if you have some pre and post tax money, you roll over the pre tax, but have to take the post tax money.
I was able to roll some over because, in my early days at the Company, I had made some after-tax contributions to my 401k prior to switching my contributions to before tax. There was some higher level of liquidity with this portion, and the money accrued from its investment, if I understood my investment advisor properly. It might be worth calling Fidelity to have this definitively answered, or send a message via their site?
Depending on your age and amount of service you may be eligible to roll over full amount that you have. Check with Fidelity.
I believe you can do about 30%. Not sure how often you can do it.
Yes. I did one about 5 years ago to ML.